If the government keeps tight control over the mortgage giants and provides an “implicit guarantee” of their debt, rates might rise by 1/5 of a percentage point, Stanford researchers conclude. Continue reading
The legal battle over the Fed’s independence will drag into next year, with the Supreme Court to hear oral arguments in January on the Trump administration’s bid to fire Cook. Continue reading
The National Flood Insurance Program, set to lapse on Sept. 30, and federal agencies critical to processing mortgage paperwork like HUD, FHA, VA, USDA and the IRS face staff reductions. Continue reading
Lower courts have ruled Cook can continue to serve on the central bank’s board while she challenges the Trump adminstration’s move to fire her over unproven mortgage allegations. Continue reading
Trump appointee Stephen Miran confirmed as Fed governor in 48-47 Senate vote, but appeals court upholds ruling that Lisa Cook can stay on board while she contests legality of removal order. Continue reading
Applications for purchase mortgages hit their highest level since July last week, and rates keep falling on weak jobs reports and more encouraging inflation data Continue reading
Trump’s move to fire Cook likely violated her right to due process, and “for cause” provision for removal is limited to governor’s behavior in office, judge rules in granting preliminary injunction. Continue reading
Investors who fund most home loans are no longer wondering whether the Federal Reserve will cut rates this month, but by how much. At least three quarter-percentage point rate cuts are now expected this year. Continue reading
Cook’s attorneys say she did not commit mortgage fraud, and is being targeted by the Trump administration to undermine the Federal Reserve’s independence. Continue reading
Purchase loan demand eased last week, but rates are expected to keep falling on a new report showing there are more people unemployed than there are job openings for the first time since the pandemic. Continue reading