Minutes from the December meeting of the Federal Reserve Board and the Federal Open Market Committee were released this week, and they show Fed members still focused on fighting inflation, not lowering interest rates. (The full minutes can be found here.) “Participants generally observed that a restrictive policy stance would need to be maintained until…
By JARED WHITLEY Divorce is the number two most stressful event in a person’s life, leading lady Leslie Knope reveals in one episode of “Parks and Recreation,” adding “Of course, marriage is number seven. So, watch out, everyone. It’s all bad.” We face a similar conundrum in the housing market right now. Housing prices have been out…
After weeks of waiting, President Biden announced Monday he is renominating Federal Reserve Chairman Jerome H. Powell to another four-year term. Now analysts are asking what impact another Powell term will mean to mortgage rates and the housing market. The move has been characterized as a return to the status quo in which the Fed…
The Federal Open Market Committee (FOMC) is meeting September 21 and 22 to discuss the next steps on broad issues related to monetary policy. But in the mortgage industry, there’s only one question on brokers’ minds: What’s going to happen to interest rates? As of today, the best guess is: Not much. Fed-watching is an industry unto…
The hot talk in Washington is about inflation, not interest rates. “We’re experiencing a big uptick in inflation, bigger than many expected, bigger certainly than I expected, and we’re trying to understand whether it’s something that will pass through fairly quickly or whether, in fact, we need to act,” Federal Reserve Chairman Jerome Powell told…
The Federal Reserve announced Wednesday that it will continue to load up on mortgage-back securities to ensure credit is available to businesses and individuals to keep the economy afloat during the coronavirus pandemic. “We have been purchasing sizable quantities of Treasury and agency mortgage-backed securities in order to support orderly conditions in the markets, which…
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