I made the mistake of reading the Washington Post this morning. To the WaPo, Brexit is like the film “Armageddon” with Bruce Willis and Ben Affleck. Now, it is only the Saturday (in the USA) after Brexit. The media focused on global doom and gloom in yesterday’s market. And global markets did fall. But let’s […]
Mortgage bankers should be happy. The US Treasury 10 year yield fell today to its lowest level since September 4, 2012. The 30 year fixed-rate ,mortgage rate should fall as well.
The Brexit (Great Britain exit from the European Union) has resulted in a pounding of the pound.
The Brexit passed (meaning that Great Britain is withdrawing from the European Union). The reaction? US 10 year Treasury yields fell 25 basis points
The Federal Reserve has kept the Fed Funds Target rate below 50 basis points since late 2008. And don’t forget about The Fed’s asset purchase program (mostly agency mortgage-backed securities and US Treasury instruments). But The Fed’s zero interest rate policy (ZIRP) and quantitative easing (QE) has help create asset bubbles.
Hot off the press from the NAR (not NRA): “Existing-Home Sales Grow 1.8 Percent in May; Highest Pace in Over Nine Years.” Yes, kids, US existing home sales rose to 5.53 million units, the same level that we saw in late 2001.
This is like the film “Clash of the Titans.” Except the titans are not mythological characters, but real-life Federal Reserve governors (past and present). Former Minneapolis Fed’er Narayana Kocherlakota penned this commentary of St Louis Fed’s James Bullard’s commentary on inflation, productivity and Fed policy.
It wasn’t an article about Tom Cruise, but an article on why the FHA should impose a ‘cap’ on riskier borrowers.
While the US mortgage foreclosure crisis continues its path towards normalization (it has been almost 9 years since the infamous beginning of the home foreclosure crisis in Q4 2007), judicial foreclosure states continue to experience staggering loss severity
The Federal Reserve’s zero interest rate policy (ZIRP) and quantitative easing (QE) have certainly aided the growth in commercial lending. Unfortunately, charge-offs on commercial and industrial (C&I) loans YoY have exploded at the fastest rate in history.