The Fed: No Rate Hike Today – NMP Skip to main content

The Fed: No Rate Hike Today

Phil Hall
Jul 26, 2017
The Trump Administration revisited a concern from earlier in the year that the President was considering the removal of Jerome Powell as Chairman of the Federal Reserve

The Federal Reserve has decided now is not the right time for another rate hike.
“In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at one to 1-1/4 percent,” said the central bank’s Federal Open Market Committee (FOMC) in a statement. “The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to two percent inflation.”
The Fed added that it would continue to reinvest “principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction.”
Mike Fratantoni, Chief Economist of the Mortgage Bankers Association (MBA), said, “The Fed is embarking on a new course. Having given the market plenty of notice that they would begin shrinking their balance sheet holdings of Treasuries and MBS this year, following their July meeting, they have now indicated their intention to slow reinvestments in their securities portfolio ‘relatively soon.' Read that as a signal that they will likely announce at their September meeting that they will begin tapering reinvestments in October.”

Jul 26, 2017
Georgia Governor Signs New Mortgage Licensing Law

Lessens impact on hiring of out-of-state employees with criminal records

Regulation and Compliance
May 10, 2022
10,000 NAHB Members Sign Letter To Biden Seeking Housing Market Help

The letter cites rapidly rising interest rates, rising home prices and rents, and the rising cost of lumber and building materials for significantly decreasing housing affordability.

May 02, 2022
Pending Home Sales Fall Again

Pending home sales fell for the fifth consecutive month, according to the National Association of Realtors pending home sales index.

Regulation and Compliance
Apr 27, 2022
CFPB Invokes Dormant Authority To Examine Nonbank Companies

Bureau seeking comment on updated procedures

Regulation and Compliance
Apr 25, 2022
FHA Adds 40-Year Loan Modification To Loss Mitigation Options

Joins GSEs, NCUA, & USDA in offering the option.

Regulation and Compliance
Apr 20, 2022
22 AGs Call For Eliminating Mortgage Convenience Fees

Coalition claims fees are nothing more than double payments for services.

Regulation and Compliance
Apr 13, 2022