The Fed Raises Rates Again

Phil Hall

Sep 26, 2018

What is the biggest fear to agitate the mortgage industry? According to a new survey by Genworth Mortgage Insurance, it is the prospect of rising interest rates

The Federal Reserve has given the green light to raise rates again.

The central bank’s Federal Open Market Committee (FOMC) voted unanimously to raise the federal funds rate by 0.25 percent, setting the target range at two percent to 2.25 percent. In announcing its decision, the Fed sited a strong job market, low unemployment and increases in household spending and business fixed investment, along with indications that “longer-term inflation expectations are little changed, on balance.”

The new rate hike is the third for this year, and it affirms comments made last month by Fed Chairman Jerome Powell that “if the strong growth in income and jobs continues, further gradual increases in the target range for the federal funds rate will likely be appropriate.”

Link copied

Published

Sep 26, 2018

Analysis and Data

New Home Sales Dip In October But Remain Strong Year-Over-Year

October 2023 sees a 5.6% decrease in new single-family home sales compared to September, yet records a robust 17.7% compared to October 2022.

New data from the U.S. Census Bureau and the Department of Housing and Urban Development shows that new single-family home sales in October dipped, reaching a seasonally adjusted annual rate of 679,000. While this figure reflects a 5.6% decline compared to the revised Septem...

People On The Move

Five Leaders Appointed At Mortgage Subservicer

Cenlar promotes, appoints five to leadership roles

Mortgage subservicer Cenlar FSB recently announced the appointment and promotion of five leaders. The Ewing, N.J.-based company appointed two new directors and promoted three leaders to new positions. “I want to welcome our new directors and con...