Let Valuation Tech Help Improve Your Collateral Valuation

Join this webinar to learn how technological advancements in valuation provide solutions to help lenders and servicers deliver more comprehensive offerings to their clients.

Talking proptech with FinLedger Director Holden Page

In this episode, Page discusses the hottest topics coming across FinLedger’s news desk. Topics include: the online banking market, what’s happening in the proptech space and recent private market deals.

With a reinvigorated CFPB, what’s next for the NYDFS?

While the CFPB is reinvigorated under the Biden administration, there’s plenty of room for it to retake a leading role and coordinate with the NYDFS.

Does your CRM hurt or help the customer experience?

In real estate, data is king. The more you leverage your own data the better off your agents or loan officers will be because they’ll be able to identify, target and create better customer experiences.

Politics & MoneyMortgage

Fed almost certain to cut rates in September

Fed Chair Jerome Powell says he will act “as appropriate”

The Federal Reserve is expected to cut rates once again when the Federal Open Markets Committee meets in September.

Federal Reserve Chair Jerome Powell responded that the Fed would act “as appropriate” in order to maintain the current economic expansion. 

In fact, the Fed funds futures are giving a rate cut a 100% chance in September’s meeting.

“Our obligation is to use our tools to support the economy, and that’s what we’ll continue to do,” Powell said at the University of Zurich, according to an article by John Revill and Brenna Hughes Neghaiwi for Reuters.

However, Powell did float out that there is disagreement in the ranks about the direction the Fed should take, the Reuters article pointed out.

“We are clearly at a time where there is a range of views,” Powell said.

The Fed minutes from the July meeting showed that more rate cuts are likely through the end of 2020.

At the end of its most recent July meeting, the Federal Reserve cut its benchmark rate by a quarter percentage point in a bid to keep the longest economic expansion in U.S. history from petering out. It was the first reduction since the financial crisis more than a decade ago.

At the end of August, President Donald Trump called on the Federal Reserve to reduce the federal funds rate by 100 basis points, saying it is purposefully keeping the economy low for the 2020 election.

Trump said the Fed should lower rates, and even look at further action.

“The Fed Rate, over a fairly short period of time, should be reduced by at least 100 basis points, with perhaps some quantitative easing as well,” Trump tweeted.

However, Powell disclosed in no uncertain terms that political factors are not playing a role in his decision making.

“Political factors play absolutely no role in our process, and my colleagues and I would not tolerate any attempt to include them in our decision-making or our discussions,” he said. “We are going to act as appropriate to sustain the expansion.”

Most Popular Articles

Will we ever see a “normal” housing market again?

The question on everyone’s minds: When will this hot housing market cool down? Arch MI investigates this and more in its Spring Housing and Mortgage Market Review.

Jun 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please