While the president had harsh words for Yellen during the campaign, sources say he will discuss the possibility of her staying on for another term in the Fed’s top spot
The average rate for the 30-year fixed mortgage posted its biggest increase since July
The latest FOMC meeting minutes show the bank is unlikely to raise rates until mid-2015, but the exact timing of the increase still depends on the health of the economy.
The White House has confirmed the Obama Administration is directing the FHA to reduce annual mortgage insurance premiums from 1.35% to 0.85%.
In a speech to be delivered tomorrow in suburban Phoenix, the President may announce a reduction of FHA mortgage premiums.
Historically, the mortgage industry experiences a slowdown during the holiday season, but this time around it was particularly quiet. Meanwhile, rates have hit a 19-month low.
Now is the time of year that mortgage professionals are flooded with predictions about what is going to happen in the housing market. Following the wrong advice could lead us to take poor risks or, conversely, not to take good ones.
The 10-year yield and MBS are experiencing low rates, but keep in mind to expect increased volatility at these low interest rate levels.