The Feds Mentioned the Elephant in the Room

4/7/2017 | Casey Fleming As I wrote last weekend the Federal Open Market Committee (FOMC) of the Federal Reserve (The Feds as they are known in the hood) was going to release the minutes of its March 14th meeting yesterday, April 6th, and the contents could move the market.  As it turns out, there was...

Lower Mortgage Rates Last Week

4/2/2017 | Casey Fleming Last week I wrote that due to a thin week of economic reports there was not much likely to happen the week of March 27th to drive mortgage rates one way or another.  I also noted that this coming week (April 3rd) there were more economic reports on tap, and some...

Interest Rates Behaved This Week

Interest rates pretty much flatlined this week.  As I wrote last week it was a busy week for economic reports, but they pretty much all came in very close to where the consensus of a survey of economists thought they would.  Most showed a very slight surprise to the upside, which is not good for...

Mortgage Rates – New Year, New Attitude?

What have mortgage rates been up to so far in 2017?  Are interest rates up, down, or sideways?  In a previous column, I wrote that interest rates would jump up if Donald Trump won the election, and probably settle down once the news had been digested.  Let’s see how I did. As we know by...

Mortgage Rates Hold Steady

As expected, mortgage rates held steady this last week, with a very slight improvement Monday and Tuesday of this week, supporting the notion that bonds are oversold but won’t recover until the New Year. The Electoral College vote did not appear to have any measurable impact on the market, so we presume that the market...

Interest Rates Settle in for the Holidays

Interest rates have settled in to a narrow range after the run-up in response to the election.  Despite a lot of year-end economic reports and some major events that would normally be market-moving, mortgage rates seem to be happily steady again for the time being, albeit above where they sat for most of the year....

Will the Election Affect Interest Rates?

The question on everyone’s mind is: “Depending on who wins the election, what happens to interest rates?”  Well, to be fair, that questions isn’t on everyone’s mind.  But someone asked it, so I have to write about it.  Truthfully, I don’t even want to think about the election. But since you asked… Let me start...

Will Fannie and Freddie Go Away?

Exactly two years ago I wrote a column about Fannie Mae and Freddie Mac (AKA The Agencies, or GSEs) and the efforts to dismantle them for political reasons.  Fortunately for those who own homes, those who may want to buy homes, and those who sell homes for others, nothing ever came of those efforts –...

The Federal Reserve Strike Again

Last weekend I wrote that markets would probably idle until the Federal Reserve published their announcement on Wednesday afternoon after their two-day policy meeting.  After the announcement came out the stock and bond markets both rallied dramatically, driving Treasury bond yields and mortgage-backed security yields lower. To see how dramatic the words of the Federal...

Well, What Did The Feds Do?

I mentioned last weekend that interest rates would probably rise or hold steady in anticipation of the announcement from the Federal Open Market Committee, which is comprised of the Board of Governors of the Federal Reserve Bank, affectionately known as “the Feds.” After a two-day meeting March 15th and 16th the Feds have decided to...