What’s at stake: The Federal Reserve’s interest rate-setting body is expected to cut the federal funds rate by 25 basis points, but markets are also listening for hints of further and/or deeper cuts in the coming months. Expert quote: “There’s the possibility that the Fed will be sending mixed messages because the consensus probably won’t […]
Fed watchers anticipate rate cuts, watch for dissents Read More »
Home lenders were already pricing in a 25 basis-point Federal Open Market Committee cut as a key monetary meeting got underway Tuesday, suggesting that it’ll take an outcome beyond that for them to move lower. “If they cut 25 basis points and the narrative is neutral, and reasonable people can disagree or debate what neutral
Why mortgage lenders haven’t waited for the Fed to cut rates Read More »
The Federal Reserve may be poised to resume interest-rate cuts this week, but it could do more to ease US mortgage costs and stimulate housing by using different tools involving its balance sheet, says Pacific Investment Management Co. Even as traders fully expect the Fed to cut their short-term target by a quarter-point toward 4%
Fed ‘Operation Mortgage Twist’ would boost housing: Pimco Read More »
In a narrow 48-47 vote, the U.S. Senate confirmed economist Stephen Miran to the Federal Reserve Board of Governors on Monday evening ahead of a highly anticipated FOMC meeting. Miran, chairman of the White House Council of Economic Advisers, was approved by the Senate Banking Committee last week with all Republicans voting in favor and
Stephen Miran confirmed as Fed governor ahead of FOMC meeting Read More »
A federal appeals court on Monday evening denied a last-minute attempt by President Trump to block Federal Reserve Governor Lisa Cook from participating in the Federal Open Market Committee (FOMC) meeting this week. The U.S. Court of Appeals for the District of Columbia Circuit‘s decision upheld federal Judge Jia Cobb’s order last week that blocked
Court rules against Trump, allowing Fed Governor Lisa Cook to vote on rate cuts Read More »
Key insight: A federal appeals court denied the Trump administration’s effort to remove Federal Reserve Gov. Lisa Cook from the central bank’s board of governors. Expert quote: “Here, the plain purpose of providing for-cause protection was to assure members of the Board of Governors — and national and global markets — that they do not
Appeals court rejects Trump’s bid to remove Cook from Fed Read More »
Mortgage rates dropped to a new low for 2025 on Monday morning, reaching 6.25%. This decline follows disappointing manufacturing data from the New York Fed, which has caused bond yields to decrease. And mortgage spreads continue to adjust positively as they have all year. The question now is whether this trend can continue throughout the
Mortgage rates hit a new yearly low before the Fed meets Read More »
President Donald Trump on Sunday made a final push to sway a US appeals court to let him oust Federal Reserve Governor Lisa Cook over allegations of mortgage fraud before next week’s Fed vote on interest rates, again telling the court that she’s failed to dispute the claims. Trump last week asked the Washington-based appeals court to
Trump makes new push for court approval to fire Fed’s Cook Read More »
Federal Reserve Governor Lisa Cook described an Atlanta property at the center of a lawsuit over her attempted ouster as a “vacation home,” according to documents viewed by Bloomberg News. The May 28, 2021, loan estimate was issued by a credit union to Cook weeks before she ultimately purchased the home. The document shows she
Fed’s Cook called Atlanta property a vacation home, records show Read More »
Mortgage documents have been at the center of an effort by President Donald Trump to fire Fed Governor Lisa Cook over alleged mortgage fraud, but a loan estimate from 2021, first seen and reported by Reuters on Friday, seems to undermine those allegations. The loan estimate for an Atlanta condo Cook bought in 2021 shows
Lisa Cook loan docs listing ‘vacation home’ seem to undermine mortgage fraud claims Read More »