Mortgage spreads are the hero of housing in 2025, quietly helping housing demand pick up even when nobody else notices. What are mortgage spreads? In the slow dance between the 10-year yield and 30-year mortgage rates since 1971, the mortgage spread is the distance between them — the key variable keeping them close or distant. […]
Mortgage spreads are the hero of the 2025 housing market Read More »
Chana R. Schoenberger Key insight: Federal Reserve Governor Lisa Cook asked the Supreme Court to deny President Donald Trump’s request to overturn a preliminary injunction previously issued by a district court. In her filing, Cook called the Court’s intervention “premature.” Expert Quote: “A stay from this Court would signal to the financial markets that the
Filings warn of market chaos if Fed Gov. Cook is removed Read More »
Kent Nishimura/Bloomberg Key Insight: Federal Reserve Bank of Kansas City President Jeff Schmid said he supported a 25 basis point cut to interest rates in September as a precautionary measure, but thinks that going forward the central bank should continue to focus on cracking down on inflation. Expert Quote: “I view the current stance of
Fed’s Schmid: Monetary policy is “where it needs to be” Read More »
Andrew Harrer/Bloomberg Key insight: Federal Reserve Chair Jerome Powell said the recent uptick in the unemployment rate and slowing job gains were factors that led the central bank’s rate-setting committee to cut short-term interest rates by 25 basis points. Expert quote: “Our policy is not on a preset course. We will continue to determine the
Fed’s Powell mum on future interest rate cuts Read More »
Al Drago/Bloomberg Key insight: Fed Vice Chair for Supervision Michelle Bowman signaled that she is onboard for notable short term interest rate cuts if the labor market picture continues to worsen. Expert quote: “The recent data, including the estimated payroll employment benchmark revisions show that we are at serious risk of already being behind the
Fed’s Bowman: ‘Serious risk’ of labor market deterioration Read More »
Mortgage rates hit a low of 6.13% before the Federal Reserve meeting last week and then rose higher to close the week at 6.35%. I discuss what happened at the Fed press conference in this episode of the HousingWire Daily podcast and then covered the next two days of wild pricing in this episode. Let’s
Where do mortgage rates go from here? Read More »
The long-term rate drop in anticipation of the latest Federal Open Market Committee has affected servicing, but since the confirmation of a 25 basis point FOMC cut has stabilized financing costs the impact currently appears limited on a go-forward basis. “Servicers should expect a pickup in refinances as there are a significant number of households
What the current Fed rate outlook means for servicing Read More »
Mortgage rates have had a wild ride since Fed Chair Jerome Powell started talking at the Fed press event Wednesday, rising 15 basis points today. However, I think the bond market responded appropriately after the Fed meeting, and on Thursday morning. Why? Even though the Fed lowered rates, the tone of the press conference was
Mortgage rates go wild following Fed rate cut and Powell remarks Read More »
The Trump administration asked the Supreme Court on Thursday to issue an emergency order that would allow for the removal of Lisa Cook from the Federal Reserve’s board of governors. The move came after an appeals court refused to back the administration’s attempt to oust Cook earlier this week, upholding federal Judge Jia Cobb’s order last
Trump asks Supreme Court to uphold firing of Fed governor Cook Read More »
Key insight: The Federal Reserve’s move to cut rates was bolstered by growing concern over a softening labor market. Expert quote: “Almost everyone wrote down support for this cut. Some supported more cuts, and some didn’t — and that’s just how it is,” — Fed Chair Jerome Powell What’s at stake: Despite the Fed moving
More rate cuts eyed as Fed zeroes in on soft labor market Read More »