Hot September CPI puts an October Fed hike on the table
Headline CPI rose 3.7% from a year ago and core beat forecasts, Redfin calls an October 28 hike a coin flip, and sellers now outnumber buyers by the widest margin in Redfin's records.
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Only One Month Left: Register by Nov. 13 for NMLS Conference Early Bird Discount
Title: Only One Month Left: Register by Nov. 13 for NMLS Conference Early Bird Discount NewsItemCategory: News & Events NewsItemDescription: Only one month remains to register with an early bird discount for the largest annual gathering of financial services professionals across the mortgage, debt, consumer finance,…
Compass CEO defends private listings, says MLSs make homes look ‘damaged’
Reffkin said 43% of listings had a price drop history in September, and 6% were pulled off market
Inflation report is more bad news for mortgage lenders
A shift in expectations regarding an October Fed rate hike could carry over into the mechanisms used to price mortgages, enhancing the pessimism in the market.
CFPB Announces New Initiative to Address OCC-Uncovered Debanking by Large Banks
Today, the Consumer Financial Protection Bureau (CFPB) announced the next step in its work to advance President Trump’s fight against the debanking of businesses and individuals on the basis of their constitutionally protected rights
CPI Puts a Floor Under Recent Rate Rally
Unrounded core CPI came in at 0.335, which nearly rounds to 0.4% versus an expectations of 0.2%. This is a big surprise when it comes to inflation data, and it matters more at the moment given the rapidly evolving Fed rate hike outlook. Recent Fed speeches caused a significant pull-back in rate hike expectations.…
Core Inflation Tops Forecasts, Making an October Fed Rate Hike a Close Call
Takeaway: A higher-than-expected inflation report puts the odds of a rate hike in two weeks at 50/50. Rates will give back some of last week’s improvements. Both overall and core inflation–which excludes food and energy prices–jumped in September more than expected. Overall inflation for September came in at 0.65%…
Mortgage applications fall again as 30-year rate hits 7.5%
ARM demand climbs to its highest application share in a year as buyers face borrowing costs near three-year highs
Correspondent and Wholesale, CLE, Audit, Free POS Products; News From Chicago; MBA Chair Owen Lee Interview
What percentage of the industry is shifting credit policies? Yesterday the industry learned that Fairway Independent and Movement are “now implementing VantageScore 4.0 (owned by Experian, Equifax, and TransUnion)… The VantageScore 4.0 credit scoring model is offered through Experian, Equifax and TransUnion, as well…
Hot CPI inflation print puts October rate hike in play
Both headline and core CPI came in higher than consensus forecasts The post Hot CPI inflation print puts October rate hike in play appeared first on Scotsman Guide .
Home Sellers Now Outnumber Buyers By 63%, the Biggest Gap Since the Post-Recession Housing Crash
House hunters had more negotiating power in September than they’ve had since the housing market crashed after the 2008 financial crisis, with 63% more home sellers than buyers. The number of buyers in the market dipped to the lowest level in records dating back to 2013, while the number of sellers rose to its highest…
MBA mortgage applications slip 2.7% as rates continue to rise
The refinance share rose to 37.7%, and FHA refinance volume fell 5% as rates moved higher