A look at Biden’s first week in office

This episode reviews last week’s inauguration of President Joe Biden, examining which housing issues the new administration has already taken action on.

Biden’s executive order will extend foreclosure moratorium

President Biden revealed his plan to sign 17 executive orders his first day in office, including am extension of the eviction and foreclosure moratorium to at least March 31.

If consumers aren’t holding lenders back, then who or what is?

The challenge for lenders and investors is understanding how to meet borrowers where they are without layering on risk or getting bogged down in third-party intermediation.

HomeBridge’s Brian White on diversity at a practical level

HomeBridge's Brian “Woody” White discusses ways to increase diversity within the housing finance industry.

Politics & MoneyMortgage

Goldman Sachs: Fed unlikely to raise rates before Presidential election

The country is dealing with enough right now

While America grapples with who to vote for in November’s Presidential election, analysts at Goldman Sachs are certain about one thing: the Fed will likely not raise interest rates before votes are casts.

In an email to clients this morning, Alec Phillips, U.S. Political Economist in Global Investment Research at Goldman Sachs, offered a review of monetary actions by the Federal Reserve ahead of important elections.

The Federal Open Market Committee still holds three meetings left this year to determine if it should raise the benchmark interest rate; which in turn would raise mortgage rates.

After crunching the numbers, Phillips surmises the odds of a rates increase in the September FOMC meeting is 40% and a hike at the December meeting at 30%. While he did not give a percentage for the remaining meeting, in November, his calculations determined a similar low risk.

Phillips makes two observations in backing up his call.

“First, the FOMC appears to avoid surprises ahead of elections a bit more than it does at other times…. Second, while the FOMC appears to have a greater aversion to surprise hikes than surprise cuts in general, this pattern appears even stronger in presidential election years.”

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