The rate-indicative 10-year Treasury yield fell below 4.2% Tuesday afternoon in the wake of the Federal Reserve's decision to leave rates unchanged, but it had rebounded back above that mark as of midday Wednesday.Mortgage rate-indicative bond yields initially fell because the explanatory statement accompanying the Fed's decision indicates that monetary policy officials believe disinflationary risks remain, according to Barry Habib, author of the Mortgage Market Guide rate advisory service for originators. In addition to noting that "the risk of inflation becoming undesirably low remains the predominant concern for the foreseeable future," the committee also said in its statement that "evidence confirms that spending is firming and the labor market appears to be stabilizing."
-
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
1h ago -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
3h ago -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
3h ago -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
8h ago -
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
10h ago -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24