Rates also took a breather after three weeks of consecutive increases
As broadly predicted, the Fed hiked the benchmark interest rate this week. But what does that mean for originators?
In our industry--an industry that has taken quite a few hits in the media in recent years--establishing trust is even more important.
The U.S. labor market reached its longest stretch of job creation since at least World War II in October. However, the majority of jobs are part-time, or low paying, or both -- a reality, but is best ignored by investors.
Rising home prices and stagnant wages have cemented a system where more and more household disposable income is going to housing, something that is unsustainable. Since 1975, home prices and inflation have continued to skyrocket, while real wage growth has remained mostly stagnant.
The bond and MBS markets are in good technical shape now, but rates are expected to decline more as long as the economic news here and globally continue to slow.
Preliminary data showed wages and salaries climbed by $66 billion in the third quarter. The headline good, but the guts a little less so on the second quarter revisions.
The lender-placed insurance market has continually been under fire over allegations of conflicts of interest and inappropriate business practices. Lawmakers are urging that this controversial type of homeowner's insurance be put to an end.