Latest on builders, Fed officials saying lending standards too tight.
Posts Tagged ‘Elizabeth Duke’
Rates Down: MBS Rebound After 10Yr Auction, Fed Meeting
Rates started the day up, but have since dropped. Here’s why.
Tighten Seatbelts: 3 Dissenters On Fed Policy
Below is the full FOMC statement from today’s Fed meeting, and there are three dissenters on today’s new language stating a low rate target “at least through mid-2013″. These dissents are a big change because all FOMC decisions received unanimous votes since the Thomas Hoenig rotated off the FOMC in January, and he was the [...]
No Fed rate or QE2 change. Rate advice for consumers.
Today’s Fed statement acknowledges economic recovery is on “firmer footing,” and while the Fed acknowledges inflationary concerns, it’s choosing to ignore inflation pressure for now and keeping overnight bank-to-bank target Fed Funds Rates at 0-.25%, and keeping the overnight Fed-to-bank Discount Rates at .75%. They also said they’d keep going with their second round of [...]
Fed: Economy and Jobs Picture Still Unstable. No change to QE2 or overnight rates.
Below is the statement from the first Fed rate policy of 2011, which shows their view that the economic recovery and jobs situation is still unstable. They left overnight bank to bank lending rates the same at a 0-.25% target, and also said they’d continue their $600b quantitative easing program designed to lower business rates [...]
Why Rates Racing Higher After Fed’s Final “Low-Rate” Decision of 2010
Following the last Fed policy statement of 2010 (below), rates continue higher—30yr fixed 5% today vs. 4% on October 8—as mortgage and Treasury bond prices continue to trade lower on the 4 rate themes of recent weeks. The Fed noted that “the economic recovery is continuing” and that they’d continue the $600b+ Treasury buying (QE2) [...]
Fed Quantitative Easing Round 2: No More Stimulus For Mortgages, Will Buy $600b In Treasuries
The Fed said it will buy $600b in long-term Treasuries from now until June 30, 2011 as part of a second round of quantitative easing, and made no mention of buying more mortgage bonds. Buying Treasuries helps overall rates in the economy but has no direct impact on mortgage rates like buying mortgage bonds does. [...]
Mortgage Rates Drop After Fed Keeps .25% Overnight Rates. Hoenig Opposes Low Rate Stance 6th Time.
Following it’s sixth meeting of 2010, the Federal Open Market Committee voted to keep the overnight bank-to-bank Fed Funds rate at a target of 0-.25%, and the overnight Fed-to-bank Discount Rate at .75%. The statement (below) talks about ongoing threats to economic recovery, and mortgage bonds have rallied strongly (currently up 72 basis points) since [...]
Consumer Finance Savior Elizabeth Warren’s ‘Grassroots’ Rap Video Made By Hollywood Bigwigs.
Turns out this ‘grassroots’ Elizabeth Warren rap video that made the rounds last week was produced by Hollywood bigwig composer Hans Zimmer, the music man behind many of the biggest movies of the past 25 years … from Rain Man to Gladiator to Pirates of the Caribbean to the latest Batman movies and Inception. NYT [...]
Why Rates Didn’t Drop On Today’s Fed Announcement. Hoenig Dissents On Low Rate Vote 5th Time.
Mortgage bonds closed up 19 basis points today following a Fed meeting where they kept their low rate stance. Mortgage lender rate sheets didn’t decrease commensurately as lenders held the line ahead of a 10yr Treasury note auction Wednesday and a 30yr T-Bond auction Thursday. Lenders do this because longer-dated Treasury auctions compete with mortgage [...]
