A type of mortgage pipeline risk that occurs when a lender has an unusual loan in production or inventory but does not have a sale commitment at a prearranged price.
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Current production rate
Current production rate The highest interest rate permissible on current Government National Mortgage Association, mortgage-backed securities.
Gross domestic product (GDP)
Gross domestic product (GDP) The market value of goods and services produced over time including the income of foreign corporations and foreign residents working in the U.S., but excluding the income of U.S. residents and corporations overseas.
Industrial production
Industrial production A statistic determined by the Federal
Reserve Board focusing on the total output of all US factories and mines
on a monthly basis. Used as an economic
indicator.