Fed's Powell: US fundamentals remain strong, but coronavirus poses evolving risk to outlook

(Please visit the site to view this media)

Federal Reserve chairman Jerome Powell just released a statement on how the Fed will respond if the coronavirus outbreak worsens. CNBC's Steve Liesman reports.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Fed's Powell: US fundamentals remain strong, but coronavirus poses evolving risk to outlook
Fed's Powell: US fundamentals remain strong, but coronavirus poses evolving risk to outlook

Don't see a recession, but I do see a severe reaction over next few months: Pro

(Please visit the site to view this media)

Lee Munson, Portfolio Asset Management CIO, joins 'Power Lunch' to discuss if he sees a recession following the coronavirus outbreak.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Don't see a recession, but I do see a severe reaction over next few months: Pro
Don't see a recession, but I do see a severe reaction over next few months: Pro

Kudlow: Don't think market's plunge will have long-term effect

(Please visit the site to view this media)

Larry Kudlow takes reporter questions on the White House's response to the coronavirus outbreak.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Kudlow: Don't think market's plunge will have long-term effect
Kudlow: Don't think market's plunge will have long-term effect

Refinances Dominated Freddie Mac January Volume

Posted To: MND NewsWire

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 4.3 percent in January , a substantial change from the 15.2 percent gain in December. The portfolio balance at the end of the period was $2.339 trillion compared to $2.331 trillion at the end of December and $2.184 trillion a year earlier. The growth rate for the year to date is 4.3 percent compared to 1.2 percent for the same period in 2019. Purchases and Issuances totaled $47,606 billion and Sales were ($.253) billion. The December numbers were $65.799 billion and ($.780) billion respectively. Single-family refinance loan purchase and guarantee volume was $25.800 billion in January compared to $30.500 billion in December and representing a 57 percent share of total single-family mortgage portfolio…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Refinances Dominated Freddie Mac January Volume
Refinances Dominated Freddie Mac January Volume

MBS Day Ahead: All About Mortgages/MBS Underperforming vs Treasuries

Posted To: MBS Commentary

This post will focus mostly on the charts, which many of you have requested, as I need to turn my focus toward a few other things (especially when it comes to giving you a more thorough and tangible piece to share with your clients). Long story short, mortgages totally suck right now if you're comparing them to Treasuries. 10yr yields are WAY through the floor of all-time lows and mortgage rates still haven't quite made it to September 2012's lowest levels. What's up with that? It's nothing to do with G-fees or LLPAs by the way. Fannie and Freddie's financial documents show us that things haven't changed that much in that regard. No… it's actually all about the thing that it's always all about! Specifically, THIS STUFF , or THIS , or THIS . On to the charts…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


MBS Day Ahead: All About Mortgages/MBS Underperforming vs Treasuries
MBS Day Ahead: All About Mortgages/MBS Underperforming vs Treasuries

Home Equity Preferences as a Factor of Age and Race

Posted To: MND NewsWire

A recent post on the Urban Institute’s (UI’s) Urban Wire blog focuses on some overlooked data on FHA’s Home Equity Conversion Mortgage (HECM) program. The program guarantees loans, commonly called reverse mortgages, for homeowners 62 years and older. These loans allow homeowners to withdraw the equity from their home, either in a lump sum or in monthly payments. The loan does not need to be paid back until the homeowner leaves or sells the house. UI analysts Karan Kaul, Laurie Goodman, and Sarah Strochak write that seniors are currently “sitting on a mountain of housing wealth” (estimated in 2017 at $3 trillion) and are anxious about their finances. Therefore, one might expect HECM to be a well-used program. But even as the number of older Americans has grown, participation in the program has…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Home Equity Preferences as a Factor of Age and Race
Home Equity Preferences as a Factor of Age and Race

LO Jobs; Broker, Credit, Compliance Products; Coronavirus Continues to Drive Markets

Posted To: Pipeline Press

We’re almost at the end of February already. Mortgage bankers are funding loans, throwing axes, working overtime, learning about skydiving, all kinds of things! In a little over a week (March 8) many states will change their clocks, “springing forward” and once again people will wonder, after “losing” an hour, why the United States keeps this system. Yes, the days are “getting longer.” I know that is just a saying, as every day has the same number of hours; Anchorage is adding five minutes of daylight every day while Miami is adding two minutes of daylight every day. Speaking of adding, according to “The State of the Originations Industry” from Altisource, more than two-thirds of mortgage origination professionals plan on adding programs…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


LO Jobs; Broker, Credit, Compliance Products; Coronavirus Continues to Drive Markets
LO Jobs; Broker, Credit, Compliance Products; Coronavirus Continues to Drive Markets

Former Fed Governor Warsh: Fed should coordinate with global central banks

(Please visit the site to view this media)

Kevin Warsh, former Fed governor who is now serving as the Shepard Family Distinguished Visiting Fellow in Economics at Stanford University's Hoover Institution, joins "Squawk Box" to discuss his recent Wall Street Journal opinion piece titled "The Fed can't wait to respond to the coronavirus."

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Former Fed Governor Warsh: Fed should coordinate with global central banks
Former Fed Governor Warsh: Fed should coordinate with global central banks

Zox: We're probably in a liquidity recession right now in the corporate bond market

(Please visit the site to view this media)

Bill Zox of Diamond Hill Capital Management discusses why there's been such a stark move in investment grade and high-yield bonds in concert with the declines in the broader markets.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Zox: We're probably in a liquidity recession right now in the corporate bond market
Zox: We're probably in a liquidity recession right now in the corporate bond market

nCov Helping Rates, But Could it Hurt Housing?

Pending home sales bounced back last month after an unexpectedly dismal performance ended the prior year. The National Association of Realtors ® said its Pending Home Sales Index (PHSI), which had dropped 4.9 percent to 103.2 in December, posted a 5.2 percent increase last month to a reading of 108.8. This is 5.7 percent higher than the Index in January 2019. The PHSI is a forward-looking index based on contracts for existing home purchases. It is generally expected to predict existing home sales over the next several months. Pending sales rose in three of the four regions compared to December with a small dip in the West. All four regions bettered their year-earlier readings. An improvement in the PHSI was anticipated, although the results were at the top of the forecast range of 1.0 to
nCov Helping Rates, But Could it Hurt Housing?
nCov Helping Rates, But Could it Hurt Housing?