The Senate confirmed Kevin Warsh on Wednesday to succeed Jerome Powell as chairman of the Federal Reserve, sparking hopes within the mortgage industry for less volatility as Warsh takes the helm of the central bank. Warsh, President Donald Trump’s nominee to serve as the 17th Fed chair, was previously confirmed as a board member on […]
Senate confirms Kevin Warsh as Fed chair Read More »
Mortgage rates rose somewhat sharply yesterday to match the highest level since March 27th. They’re just a hair higher today, thus officially at 6-week highs. Whereas yesterday’s Consumer Price Index (CPI) didn’t have an obviously negative impact on rates, today’s Producer Price Index (PPI) did. Both are big inflation reports. CPI is typically much more
Mortgage Rates Officially at 6 Week Highs Read More »
Household debt inched up to another record high in the first quarter even though nonmortgage-related debt drifted lower with a seasonal decrease in credit card balances due in part to tax refunds. Processing Content Housing finance obligations rose, driving total debt up by $18 billion to $18.8 trillion during the period, according to an analysis
Household debt at a high, risks lurk beneath stable arrears Read More »