Archive for the 'Mortgage News' Category
Plosser Says Rate Hike is Inevitable Even whether Housing Prices Continue to Fall
Speaking in a Bloomberg Television interview, noted
hawk Philadelphia Federal Reserve President Chuck
Plosser said the Fed may have to hike rates even as housing
prices continue to fall.
Plosser commented that the economy has not changed much in the final
few months and that rising prices pose …
U.S. Fed’s Beige Book is Downbeat, But Few Surprises
Economic conditions across the U.S. “slowed somewhat,” according to
the Fed’s Beige Book on Wednesday. Five of the 12
districts were said to have weakened since the final report six weeks ago,
while Chicago’s economy was “sluggish” and growth in Kansas City had
moderated. The remaining three dis…
Treasury’s Paulson Says it Was Easy to Recommend President Sign Housing Bill
Although he is not pleased with some parts of the
housing bill, U.S. Treasury Secretary Henry Paulson said
it was easy for him to recommend to President George W. Bush to sign a
housing rescue package into law on Wednesday.
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Original post by Mortgage News Daily - Mortgage And Re…
Mortgage Rates Fall in Response to Speculation about Overnight Bank Rates
Rates for both short- and long-term mortgages tumbled final week
according to Freddie Mac’s Primary Mortgage Market Survey.
The Mortgage Bankers organization (MBA) released the results of its
Weekly Mortgage Applications Survey for the week ended
July 18 on Wednesday. Mortgage activity as measur…
MBA Mortgage Applications Move Down in Week Ending July 18
Weekly mortgage applications in the United States
declined in the week ending July 18, according to notes released from the
Mortgage Bankers’ organization (MBA) on Wednesday, which reported a 6.2%
week-over-week fall in applications. Read More Now
Original post by Mortgage News Daily - Mortga…
Wednesday’s Events: Canadian CPI, DOE Oil, Fed’s Beige Book
Canadian CPI tops the profitable news of the day as markets get the
Fed’s Beige Book and the division of Energy’s weekly oil inventories.
In the afternoon, markets will plus be paying attention o the sales of
$31 billion in two-year Treasury notes.
In the U.S., the Mortgage Bankers organization…
Fed reduction assembly Minutes See Fed Majority Take a Wait-and-See Approach
The Federal Reserve Board reduction rate assembly
minutes from May 19 and June 23 show that ten out of twelve
reserve banks voted to leave the reduction rate unchanged. The Dallas Fed
and the Kansas Fed requested to have the reduction rate increase by
0.25%.
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Original post by Mo…
House Prices Falls Less Than Expected in May, According to OFHEO
U.S. house prices fell 0.3% month-over-month in May
following April’s 0.8% pullback, the Office of Federal Housing Enterprise
Oversight (OFHEO) reported Tuesday.
The consensus had been looking for a 0.8% month-over-month pullback in
May.
“It is very tough to draw conclusions from a one-month nu…
Banks, Trade Groups Say that SEC Order Does Not Go Far Enough
Less than a week after Securities and Exchange Commission Chairman
Christopher Cox invoked the Commission’s emergency powers to regulate
short selling of positive stocks including Freddie Mac
and Fannie Mae, complaints were surfacing from financial institutions.
The complaints were not consideri…
Tuesday’s Events: OFHEO Housing Index; Fed’s Plosser
Canadian retail sales and employment insurance info tops the profitable
news for the day as U.S. markets will get the OFHEO’s housing
market index, along with the Richmond Fed’s manufacturing index
and comments from Treasury Secretary Henry Paulson and Philly Fed
President Charles Plosser (voter…
Fed’s Plosser Calls for a Reversal in Monetary Policy
Inflation in the U.S. is “too high” and inconsistent with the goals of
the Federal Reserve, whose accommodative policy must be
reversed, said Charles Plosser, President of the Philadelphia
Fed, on Tuesday.
Plosser, a well-known inflation peddle, said monetary
policy is too loose and the Fed wil…
Tsy Secretary Paulson Says Fannie and Freddie Vital to Financial System
Speaking at the New York Public Library, U.S. Treasury Secretary
Henry Paulson said Fannie Mae and Freddie Mac are vital
to the U.S. financial system, and that he remains confident Congress will
pass GSE legislation sometime that week.
“Because of their size and scope, Fannie and Freddie stabili…
Treasury’s Ryan Expects GSE Legislation to Pass Soon
Speaking in Boston at the Managed Funds organization Seminar on Sound
Practices for Hedge Fund Managers, Acting Undersecretary for Domestic
Finance Anthony Ryan said on Monday he expects GSE legislation to
be passed soon by Congress.
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Original post by Mortgage News Daily - Mortg…
Fed Watch: Bernanke Testimony Focuses on Growth, FOMC Minutes Released
Current Rate: 2.00% Next Rate Decision: Aug. 5 Market
Expectations: The OIS implied rate suggests markets are 16% priced in for
a 25bp hike at the next assembly and are pricing in a 41%
chance of a quarter-point hike at the September assembly.
Last week was a fairly engaged week for Federal Rese…
