The MBA's chief economist is also projecting that home values will decline by 12%-15% through mid-2009 from peak levels in late 2006. "Really, it's a housing recession," Doug Duncan said Feb 27 at the MBA National Mortgage Servicing Conference in New Orleans. He said he believes the Federal Reserve Board remains focused on keeping the economy out of a steep recession and is therefore likely to reduce rates again in March, despite recent data showing an increase in wholesale inflation. Another rate cut will help reduce the pressure on subprime borrowers whose teaser rates expire this year, meaning their monthly payments will adjust upward to a level tied to short-term rates. Many of the hybrid two- and three-year ARMs originated in recent years will adjust to rates that are 5.0-5.5 percentage points above the six-month London interbank offered rate.
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The newest addition to the Panorama group of companies aims at offering opportunities to first-time home buyers through wholesale and correspondent channels.
11h ago -
The government-sponsored enterprise has reportedly added a new vendor to a test in which it buys certain loans without title insurance or attorney opinion letters.
July 10 -
Federal Reserve Gov. Christopher Waller said that criticisms of the Fed's balance sheet and calls to return to a scarce reserves system are misinformed, saying that much of the central bank's balance sheet is the result of activities outside the Fed's control.
July 10 -
Several large banks are deploying agentic AI. There's a big difference between managing people and managing AI agents.
July 10 -
The New Hampshire congresswoman promised new investigations into scam drivers, including AI and digital payment platforms.
July 10 -
The 30-year fixed mortgage rate rose for the first time in six weeks, driven by Friday's strong jobs report and renewed uncertainty around tariffs.
July 10