Mortgage spreads reached their narrowest point in three years on Aug. 22, but were still wider than their historic average, Redfin reported. The normal spread, which in this case measures the difference between the 30-year fixed rate mortgage and the 10-year Treasury yield, is in a range between 150 basis points and 200 basis points. […]
Mortgage-Treasury spread at narrowest point in three years Read More »
Federal Reserve Gov. Lisa Cook.Bloomberg News President Donald Trump said Friday morning that he would terminate Federal Reserve Gov. Lisa Cook from her post “if she doesn’t resign” over allegations that she claimed a secondary home was her primary residence in a 2021 mortgage application. “Yeah, I’ll fire her if she doesn’t resign, yeah,” Trump
Trump says he will fire Fed Gov. Cook ‘if she doesn’t resign’ Read More »
Federal Reserve Chair Jerome Powell at the Federal Reserve Bank of Kansas’ Economic Symposium in Jackson Hole, Wyo., on Thursday.Bloomberg News Federal Reserve Chair Jerome Powell signaled that the central bank may soon adjust its monetary policy, potentially paving the way for a rate cut in September. In a highly anticipated Friday morning speech at
Powell opens the door to interest rate cuts in September Read More »
Mortgage rates were unchanged as the markets await what Federal Reserve Chairman Jerome Powell will say on Friday. At the same time, a 10-basis point rise in the 10-year Treasury between Aug. 13 and Aug 18 was partially reversed by two days later in anticipation of a speech possibly hinting at September Fed Funds Rate
Mortgage rates remain flat as markets wait for Powell speech Read More »
Fannie Mae’s August mortgage origination forecast predicts lower volume in 2025 and 2026 compared with July as the government-sponsored enterprise moved its rate expectations higher. It now expects total home sales to decline year-over-year. Fannie Mae is still looking for existing home sales to rise, but not by as much previously expected. The drop off
Fannie Mae cuts outlook for 2025–26 home sales Read More »
Mortgage rates this week fell to their lowest level since October, supported by one better than expected inflation report as well as ongoing concerns regarding employment data. But an unexpected finding in the Bureau of Labor Statistics July Producer Price Index report could put a hold on a potential September Federal Open Market Committee short-term
Mortgage rates move lower on inflation, employment news Read More »
While more economists surveyed in August by Wolters Kluwer expect the Federal Open Market Committee to cut short-term rates at its September meeting than the previous month, a significant share still thinks action won’t come until December or later. The percentage of the participants in the Blue Chip Economic Indicators panel believing the next Fed
Economists now leaning towards September Fed cut Read More »
The impact of Trump-era tariffs on goods and services is starting to trickle through the economy, but for now, the effect on inflation appears minimal, raising expectations for a potential interest rate cut in the near term. The July Consumer Price Index, released Tuesday, showed headline price growth of 2.7% over the previous year, the
Fed faces key choice on rates after latest inflation report Read More »
President Donald Trump said Thursday that he will nominate Stephen Miran, chairman of the White House Council of Economic Advisers, to fill a recent vacancy on the Federal Reserve Board.Bloomberg News WASHINGTON — President Donald Trump said he will nominate Stephen Miran, currently the chair of the Council of Economic Advisers, to the Federal Reserve
Trump says he will nominate Stephen Miran to Fed Read More »
Bloomberg News A new round of tariffs imposed Thursday has raised alarm among economists, lawmakers and financial analysts not just for their impact on trade flows and prices, but for the ripple effects on the financial sector. Broad tariffs on more than 90 countries went into effect Thursday, following the president’s previously announced deadline for
As tariffs take hold, banks still grappling with uncertainty Read More »