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What's Up With Today's Paradoxical Fed Reaction?
What's Up With Today's Paradoxical Fed Reaction? Tough day for the casual observer to try to make sense of what happened. There's even some disagreement between the not-so-casual observers. Let's focus on what we can know for sure. The Fed didn't hike. The market was pricing a 1 in 3 chance of a hik
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Mortgage Rates Slightly Higher Despite No Fed Rate Hike
Heading into today's Fed announcement, futures markets indicated roughly a 1 in 3 chance that the Fed would hike rates. They did not. This seems like it should have been good news for rates, but there's a catch. Rates exist on a spectrum defined by "duration." Specifically, there are different rates
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Hedging, Credit, Anti-Fraud Tools; STRATMOR on Borrower Satisfaction; Fannie's $4 Billion Earnings Quarter
“Technology is dominated by two types of people: Those who understand what they do not manage, and those who manage what they do not understand.” Even if you’re a 90-year-old LO using a rotary phone, the rest of your company, and your borrowers, use technology and new products and need to stay up on
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"Pause" Ends in Iran, But Probably Not For The Fed
The big news over the weekend was that the U.S. and Iran paused hostilities--something that led to 2 solid days of gains in the bond market. But in the overnight session, the pause ended as multiple attacks were reported on both sides. Oil rose predictably and bond yields did the same. One "pause" t
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