The Federal Reserve bought $6.461 billion of agency mortgage-backed securities in the week from Jul. 13 to Jul. 19, compared with $5.656 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.
The Federal Reserve's plan for shrinking its massive balance sheet envisions a future with no holdings of mortgage bonds, a prospect that could present a significant headwind for an $8 trillion market the U.S. central bank now dominates.
More Americans were keeping up with their mortgages at the beginning of 2017 but the number of foreclosures is also on the rise, a government report said on Thursday.
The political fissure between an Obama-appointed financial overseer and regulators hired by U.S. President Donald Trump is widening, with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray threatening to challenge in court any attempt to kill his agency's new arbitration rule.
A U.S. financial regulator on Thursday criticized the Consumer Financial Protection Bureau for how it polices credit unions, in a sign of growing tensions between regulators appointed by President Donald Trump and holdovers from the Obama administration.
The Federal Reserve bought $3.683 billion of agency mortgage-backed securities in the week from Jun. 29 to Jul. 5, compared with $5.107 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.
The U.S. Federal Reserve is starting to unwind a multi-trillion-dollar program that has propped up bond markets for nearly a decade. But ask bond traders what the impact will be, or how they are strategizing around the so-called "taper," and get little more than a yawn.
U.S. mortgage applications recorded their steepest weekly decline in six months last week, even as most borrowing costs on home loans held steady, according to Mortgage Bankers Association data released on Wednesday.
U.S. mortgage lenders are bracing for rockier times as consumers demand for home loans slows and competition in the mortgage industry intensifies, Fannie Mae's latest quarterly survey released on Monday showed.
The U.S. Supreme Court on Monday scaled back the Securities and Exchange Commission's power to recover ill-gotten profits from defendants' misconduct, handing Wall Street firms a victory and dealing another blow to the regulator's enforcement powers.