Items Tagged with 'Federal Reserve'

ARTICLES

  • Mortgage rollercoaster: Originations rise to nearly 2-year high after falling to 4-year low

    New York Fed data shows originations bounced back big time in second quarter
    Things looked bleak for the mortgage business earlier this year, as data from the New York Fed showed that the first quarter of this year was the mortgage business’ worst quarter in four years, but maybe it’s not complete doom and gloom after all. In fact, new data from the New York Fed shows that the mortgage business rebounded big time in the second quarter, with originations rising to their highest level since the third quarter of 2017.
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  • U.S. housing market is "anemic" and "lackluster," says NY Fed

    Economic data indicates "implied path" of Fed rate is downward, economists say
    The Federal Reserve Bank of New York describes U.S. home sales as “soft” and “anemic” in a Monday report. Fed economists pointed to June’s existing home sales level, which was 1.7% below a year ago, as part of the reason for their conclusion: “Home sales remain lackluster.”
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  • America's debt-burdened Millennials are delaying homeownership by 7 years

    48% of undergraduates are putting off buying a home because of loans
    A survey from Clever Real Estate, an online real estate marketplace, indicates that although 84% of Millennials believe homeownership is part of the “American Dream,” a whopping 48% of undergraduates are putting off buying a home because of their loans. In fact, the report claims that debt-burdened students are now delaying homeownership by an average of seven years.
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  • NYT: Lower rates won't boost the housing market. Here's why

    It will take more than a small rate cut to tackle our growing affordability problem
    A cut in interest rates typically provides a welcome boost to the housing market, but don’t expect that to happen this time around. According to a recent article in The New York Times, the problems facing our nation’s housing market will require more than a quarter-percentage-point rate cut to solve.
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  • Housing News Podcast: Guidance Residential’s Kal Elsayed on the importance of working with underserved communities

    Listen to this week's latest episode
    Each week, HousingWire interviews financial services experts who can help make sense of the latest headlines, sponsored by our partners at Blend.This week, Kal Elsayed, the President and CEO of Guidance Residential, a faith-based home financing company, explains the importance of working with underserved communities. Additionally, Elsayed discusses the Federal Reserve's proposed rate cut and the nation's Millennial homeownership trends.
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  • Federal Reserve poised to reduce its benchmark rate

    President Trump tweets: "A small rate cut is not enough"
    The world’s most powerful central bank is poised to cut its benchmark rate for the first time since 2008, with most investors expecting a quarter-percentage-point reduction. It’s not likely to satisfy a certain resident of 1600 Pennsylvania Avenue in Washington D.C., based on Monday morning tweets. "The Fed has made all of the wrong moves. A small rate cut is not enough, but we will win anyway!" President Donald Trump said on Twitter.
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  • Future markets indicate a 0.25% cut at July Fed meeting

    Trump’s intended Fed nominee pushes for bigger reduction
    Traders in futures markets have signaled a 77.5% probability of a quarter percentage point cut at next week’s Federal Reserve meeting and a 22.5% chance of a half percentage point cut, according to the CME’s FedWatch tool. In an unusual move, Trump’s intended nominee for Fed board is pushing for the bigger reduction.
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  • Fannie Mae, Freddie Mac are building non-LIBOR adjustable-rate mortgages

    GSE officials pledge to roll out new product by 2021's LIBOR expiration
    Seven years after traders were caught boasting in emails and instant messages about cracking open bottles of champagne to celebrate their ability to manipulate the London Interbank Offer Rate, or LIBOR, the Federal Reserve issued a report with the framework for issuing new ARM mortgages based on a U.S. index. Now, Fannie Mae and Freddie Mac are preparing for non-LIBOR ARMs.
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  • Goldman Sachs all but guarantees the Federal Reserve is about to cut interest rates

    Analysts say there's a 90% chance of a rate cut
    Analysts from Goldman Sachs told clients this week that it’s basically a done deal that the Federal Reserve will cut its benchmark interest rate later this month. In the report, the Goldman Sachs analysts say that there’s a 90% chance of a rate cut coming out of the next meeting of the Federal Open Market Committee, which is set for July 30-31.
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  • Fed Chairman Powell tells Congress he would ignore Trump if fired

    “I fully intend to serve,” the nation’s top central banker said
    Federal Reserve Chairman Jerome Powell told Congress on Wednesday that he wouldn’t leave his post as the nation’s top central banker even if President Donald Trump fired him. Any whiff of instability at the top of the nation’s banking system could cause rates to rise as mortgage-bond investors seek additional compensation for perceived risk.
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