Following pressure from Sen. Elizabeth Warren, Federal Reserve Chair Jerome Powell has indicated that the Fed's Board of Governors will hold a vote to decide whether or not to lift growth restrictions placed on the megabank. Plus, here's why Capital One putting a stop to mortgage lending is good for its investors.
Mortgage rates dipped for the first time in 2018 with the 30-year fixed mortgage rate decreasing to 4.44%, halting nine consecutive weeks of increases, according to Freddie Mac’s latest Primary Mortgage Market Survey.
During Thursday’s general economic outlook session at MBA’s Servicing conference, Joel Kan, MBA’s associate vice president of industry surveys and forecasts, said there is an expectation for a rising rate environment, given the domestic economic fundamentals against the job market.
Mortgage rates dropped this week after the Federal Open Market Committee declined to raise rates in September. In fact, the 30-year fixed-rate mortgage hit a 10-week low. Freddie Mac’s chief economist explains why.
Mortgage rates started to rise amid market expectations of a possible rate increase by the Federal Reserve. Last week rates fell slightly lower amid expectations of no rate increase by the Fed, but thanks to a recent comment from Fed Chair Janet Yellen, this low-rate environment could start to end.
In her meeting with the Senate Banking Committee on Tuesday, Federal Reserve Chairwoman Janet Yellen said that it would be awhile before the central bank’s Open Market Committee makes a move on interest rates. A choice the market seems to be happy about.
Can rising rates loosen lending standards? Well, first, rates have to rise...
December 1, 2014
According to Fannie Mae's National Housing Survey for August, lenders anticipate interest rates rising steadily in the coming months and expect an even bigger and concurrent reduction in mortgage loan demand. Will that reduced demand drive lenders to loosen credit standards?
He wears t-shirts to his televised interviews; not very CEO. He played sports at a high level, but rarely brings it up and when he does he talks about it as a mere chapter in his life. Honestly, who plays a Super Bowl and doesn’t describe it as the defining moment in their personal journey? Casey Crawford, that’s who. His family is a big part of his life of course, but he talks about his even larger family — his coworkers — in terms that are just as glowing.
One of the things that has bedeviled mortgage financing post-crisis has been the absence of the private label mortgage backed securities market. During the peak years, private label MBS issuance topped $1 trillion. In 2017, only $70 billion of private label RMBS were issued, although that is a big increase from 2016.
Digital technology has disrupted businesses and industries from publishing to public transportation, so can the mortgage industry be far behind? Actually, anyone who’s applied for a mortgage recently will have recognized that things are already changing fast.