The Lede

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Mortgage Rates Shoot Up to their Highest Level in Nearly 8 Years
Washington Post, Nov. 8, 2018--Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average jumped to 4.94 percent with an average 0.5 point. It was 4.83 percent a week ago and 3.90 percent a year ago. The 30-year fixed was last this high in February 2011. (MBA mention).
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Mortgage Rates Jump to Highest Level Since February 2011
Long Beach Press-Telegram (Calif.), Nov. 8, 2018--Jeff LazersonWhere is the energy and action these days when it comes to mortgage products? After all, most well-qualified borrowers are hunkered down enjoying their lower mortgage rates. Mortgage Bankers Association chief economist Mike Fratantoni said, "75 to 80 percent of mortgage holders are below 4 percent."
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Mortgage Delinquencies Tick Up in Q3
Scotsman Guide, Nov. 8, 2018--Victor WhitmanMortgage delinquencies edged up 11 basis points over the third quarter to hit 4.47 percent to end September, moving higher in several states in the South region in the wake of Hurricane Florence and Tropical Storm Gordon, the Mortgage Bankers Association reported.
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Redwood Trust Profit Grows Despite Stalling Originations Market
National Mortgage News, Nov. 8, 2018--Paul Centopani (subscription)Continued diversification of its business lines and better margins in its securitization activities helped Redwood Trust overcome steep mortgage origination declines and post nearly 14% annual growth in net income during the third quarter.
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Homebuilders: Housing Affordability Falls Further in Q3
HousingWire, Nov. 8, 2018--Alcynna LloydHousing affordability remained at a 10-year low in the third quarter of 2018, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.
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Waters’ Priorities: Thwarting Trump, Sheilding Consumers, Housing
American Banker, Nov. 8, 2018--Neil Haggerty (subscription)In her first comments since Democrats won control of the House, Rep. Maxine Waters, D-Calif., the expected incoming chair of the Financial Services Committee took a hard line against the Trump administration and pledged to protect "consumers and investors from abusive financial practices." But she also committed to "hearing a range of views" if chosen to run the panel.
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Multifamily Lending on Track to Break Records Again in 2018
HousingWire, Nov. 8, 2018--Ben LaneMBA released a brief updated forecast this week, which states that multifamily lending is on track to set another record in 2018.
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Fed Leaves Rates Unchanged, Says Economy Strong
Reuters, Nov. 8, 2018--Howard Schneider, Jason LangeThe U.S. Federal Reserve held interest rates steady on Thursday but remained on track to keep gradually tightening borrowing costs, as it pointed to a healthy economy that was marred only by a dip in the growth of business investment.
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