Mortgage News

by Mortgage News Daily on January 27, 2022 at 9:10 pm

What do we Make of Today’s Bond Bounce? After a big sell-off in response to yesterday’s Fed announcement, bonds rallied back today.  The gains were slow and steady at first, but the pace quickened at 9:30am (a popular time of day for increased momentum in […]

by Mortgage News Daily on January 27, 2022 at 4:14 pm

Overheard in the hallway: “My email got hacked again. That’s now the third time I’ve had to rename the cat.” But there’s a lot of other conversation and session topics here in the hallways at the IMB in Nashville. Discussion about the rapidity of the Federal Reserve’s moves in […]

by Mortgage News Daily on January 27, 2022 at 4:05 pm

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 13.1 percent in December compared to a 12.0 percent gain in November. The portfolio balance at the end of the period was $3.246 trillion compared to $3.211 trillion the prior month and $2.784 […]

by Mortgage News Daily on January 27, 2022 at 4:01 pm

Stocks and bonds both sold off in response to yesterday’s Fed events.  Stocks weakened a bit more in the overnight session, but have been bouncing back swiftly since 2am.  Treasuries started out slightly stronger and have steadily improved into domestic hours.  Less than 2 hours into the US […]

by Mortgage News Daily on January 27, 2022 at 3:33 pm

Pending home sales fell for the second month in December and are finishing up the year well below their December 2020 level. The National Association of Realtors® (NAR) said its Pending Home Sale Index (PHSI) was down 3.8 percent from November and is 6.9 percent below its level at the end of the […]

by Mortgage News Daily on January 26, 2022 at 11:04 pm

Fed policy is critically important to interest rates and January has marked a shift in the Fed policy outlook.  In not so many words, the Fed sees itself hiking rates  and decreasing its bond purchased more quickly than previously expected.  It has conveyed this in various ways since the […]

by Mortgage News Daily on January 26, 2022 at 9:51 pm

Fed Stays Course on Policy Tightening; Calls Out MBS As expected, the Fed announcement did nothing to alter the outlook for impending rate hikes starting in March and balance sheet normalization starting some time after rate hikes.  The only somewhat […]

by Mortgage News Daily on January 26, 2022 at 7:01 pm

The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. With progress on vaccinations and strong policy support, indicators Indicators of economic activity and […]

by Mortgage News Daily on January 26, 2022 at 4:32 pm

New home sales finished the year less spectacularly than they started it, but the 11.9 percent month-over-month increase was the best since last March. The U.S. Census Bureau and Department of Housing and Urban Development reported that newly constructed homes sold during the month at a […]

by Mortgage News Daily on January 26, 2022 at 3:00 pm

One conversation topic not in the hallways here at the MBA’s Independent Mortgage Banker Conference in Tennessee is the death of the original voice of Charlie Brown. The huge cost of health care is, however, and lenders can lower costs by negotiating. “Votre grand-mère donne de superbes […]