A possible shift in the composition of the Federal Reserve’s portfolio of Treasury holdings could result in the central bank buying nearly $2 trillion of bills over the next two years, enough to absorb nearly all of the Treasury’s issuance during that period, according to Bank of America Corp. Strategists Mark Cabana and Katie Craig […]
Fed portfolio shift could hand Treasury $2 trillion, BofA Says Read More »
Funds parked at a major Federal Reserve facility dropped to the lowest level in more than four years, putting in focus the amount of cash banks have sitting at the US central bank, a measure of liquidity conditions. Some 14 participants on Thursday put a combined $28.8 billion at the Fed’s overnight reverse repurchase agreement
Fed’s nearly empty reverse repo facility puts focus on reserves 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 »
Treasury Secretary Scott Bessent is reportedly considering three more candidates for the next Federal Reserve chair: Vice Chairs Michelle Bowman and Philip Jefferson, and Dallas Fed President Lorie Logan. However, other candidates will be interviewed in the coming weeks, Bloomberg reported based on talks with two administration officials. Potential candidates include President Donald Trump’s economic advisor
Treasury eyes Bowman, Jefferson and Logan for Fed Chair Read More »
President Donald Trump announced Thursday that he will nominate Stephen Miran — his top economic adviser — to fill a vacant seat on the Federal Reserve‘s Board of Governors following last week’s resignation of Adriana Kugler. Miran, who currently chairs the White House Council of Economic Advisers, is being appointed to serve the remainder of
Trump taps economic adviser Stephen Miran for Fed board seat Read More »
Today, we had another new low in mortgage rates. It was nothing too drastic, just a 0.2% drop from 6.57% to 6.55%, but it’s on a day that the 10-year yield is currently flat to higher, which means mortgage spreads made the difference today. Just like in 2024, mortgage spreads don’t always get the recognition
Better mortgage spreads lead to the lowest rates of 2025 Read More »
Following the surprising jobs report released on Friday, the 10-year yield dipped slightly on Monday. As a result, mortgage rates have reached a new low for 2025, with Mortgage Daily News reporting a rate of 6.57%. Remarkably, we haven’t seen a single Fed rate cut this year! The bond market influences the Federal Reserve, and
Mortgage rates hit lowest levels of 2025 Read More »
While many expect the Federal Reserve to cut interest rates at its September meeting, mortgage professionals caution that even if it happens, it won’t significantly impact the industry. Loan officers have encouraged borrowers to continue with their home loan applications. They note that home sellers and builders are offering concessions to lower rates, while lenders
The Fed could cut rates in September. Mortgage pros are skeptical of the impact Read More »
The Federal Reserve Board announced on Friday that Adriana D. Kugler will step down from her position as governor. Kugler, whose term was set to expire at the end of January 2026, joined the board of governors in September 2023 after being nominated by former President Joe Biden. She submitted her letter of resignation to
Adriana D. Kugler resigns as Federal Reserve governor Read More »
Bad takes about mortgage rates spread faster than wildfire — especially when they come from politicians or go viral on X. But when these narratives are misleading or flat-out wrong, they don’t just confuse consumers. They erode trust in our industry and inject unnecessary chaos into an already complex housing market. It’s time to set
Mortgage rate mythbusting: Destroying the most common misconceptions Read More »