Key Insight: Expectations are building that the regional Fed president reappointments set for February will break from historical norms, with a higher likelihood of dissents from the board of governors expected at the very least. Expert Quote: “A couple of ‘no’s’ or abstentions can illustrate that the reappointment process is not merely a rubber-stamping or […]
Inside the brewing battle over regional Fed bank leadership Read More »
U.S. Senate Democrats sent a letter to Consumer Financial Protection Bureau (CFPB) acting director Russell Vought raising concerns that any “efforts to shutter the agency” could disrupt the publication of average prime offer rates (APOR), a key benchmark in the mortgage market. The CFPB manually calculates and publishes detailed APOR tables on a weekly basis.
Senate Democrats warn CFPB shutdown could disrupt prime interest rates Read More »
The Trump administration floated the idea of a 50-year mortgage this weekend with the intention of improving affordability, but some data analyses indicate it could do the opposite. The interest paid for a 50-year mortgage on a $500,000 loan with a 6.10% annual percentage rate, roughly the current average for a 30-year fixed-rate mortgage, would
50-year mortgage plan piles on interest, analysis finds Read More »
Jeremy Erickson/Bloomberg Key insight: Economists see validity in Fed Gov. Miran’s argument that shelter inflation is coming down, but note the impact to overall inflation may vary in significance. Expert quote: “I don’t think that rental disinflation is really going to be enough of a reason on its own to say ‘mission accomplished on inflation.’ I
Fed Gov. Miran has a view on the economy. Is it persuasive? Read More »
Ting Shen/Bloomberg Key Insight: Fed Gov. Lisa Cook highlighted her commitment to getting inflation to 2% and said she will “act forcefully” if signs emerge that point to cost pressures increasing. Expert quote: “Looking ahead, policy is not on a predetermined path.” — Fed Gov. Lisa Cook. What’s at stake: Cook’s remarks come amid a growing rift
Fed’s Cook strikes hawkish tone in rare appearance Read More »
Key Insight: The October Federal Open Market Committee cut interest rates by 25 basis points as expected, but comments from Chair Jerome Powell caught market watchers off guard, casting doubt on the likelihood of another rate cut in December. Expert Quote: “There were strongly differing views about how to proceed in December. A further reduction
Fed’s rate cut trajectory unclear as dueling dissents emerge Read More »
Key Insight: Market watchers expect the central bank to announce an end to its QT program soon, signaling the close of the Fed’s large-scale asset purchases during the pandemic. Economists have varying feelings about the program, with some urging the Fed to reconsider future purchases of mortgage-backed securities. Expert Quote: “You can argue about whether it’s
As Fed mulls the end of QT, what lessons have been learned? Read More »
Treasury Secretary Scott Bessent told CNBC on Wednesday that he’ll soon be giving President Donald Trump several candidates to serve as the next chair of the Federal Reserve. “Likely sometime after Thanksgiving, in December, we’ll present the president with three or four candidates for him to interview,” Bessent told CNBC’s Sara Eisen. Bessent disclosed that he’s trimmed the
Trump to receive Fed chair candidates in December Read More »
Bloomberg News Key insight: Fed Governor Stephan Miran, one of the chief architects of President Donald Trump’s trade policies, said China’s move last week to limit rare earth exports, changed his “sanguine” outlook on economic growth. Expert quote: “It’s about where the balance of risks has moved and risks exist now that didn’t exist a
Miran: China trade war further bolsters rate cuts Read More »
Total mortgage origination volume is projected to surpass $2 trillion by the end of the year for the first time since 2022, according to a recent forecast. The milestone is driven by a 48% jump in refinance dollars and 12% spike in purchase dollars, an overall 20% increase from last year, according to iEmergent’s 2025–2027
Forecast calls for originations to surpass $2 trillion this year Read More »