is...waitin for the government to get rite for the people
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Any of you know the case #? Is it the same as the 5th s one?
Unfortunately I dont feel like we are gonna ever see these low prices again. Once earnings hit we will be seeing green.
Read the reform plan Rick. This is exactly what the number is that is in the plan. you wont have to guess anymore using your Hyperfilating guessgalactic priceprobe machine anymore. Maybe sell it to buy shares?
you dont know im in fred not fan.
found a lil moola and bought at 3.18. used gas money
the train vould be here as early as monday next week. I will have to use my gas money to buy today.
i hope we stay down till i can get my funds to buy more. the cash train is being loaded. hope ir gets here quick!
0 for 9 this year lmao
A definition:
A Put Option allows thewarrant holder to “put” the warrant back to the company. When thewarrant is put to the company, the company has an obligation to purchase the warrantback from the investor. It is a way for the investor to monetize the value of his equity stake hence I get the put at 45 billion in a certain timeframe.
I just dont believe all has been disclosed as of yet. Although there is alot i dont understand. im just tryin to figure it out like the next guy. Transparancy is disclosed at a higher education than I
Sale thats rite. Im gathering all the 1000 dollar bills I can find before the 30th to buy. This is gonna pop. Pressure down to where I expected all along but couldnt keep my finger off the 3.79 button. I have more faith in where were headed than ever before
what people dont realize is this 45 billion that is being raised is monetizing the warrants. The admin is following the reform plan and its plain as day. Once they announce earnings and get a footing people will see and the price will rocket past any expectation
hedgies bought the wall and pushed us over.
praying in the end this will be the case.
Thats exactly what I feel is happening. Two birds with one stone. Following capital standars by law doing this at the same time its all in court and it doesnt matter hes already lost but its not spent or hidden now since enbanc threw the monkey wrench. I really hate nooch forn fighting this and frezzing these assets basically and like ya said gets to watch the price go up on SPs.
I think no sweeping but what is happening is liq pref is going up. What happens in March when we reach 1 billion over the 17 billion, to the price is a better question
think this is what hes talkn bout
Treasury Department and FHFA Modify Terms of Preferred Stock Purchase Agreements for Fannie Mae and Freddie Mac
home.treasury.gov
Treasury Department and FHFA Modify Terms of Preferred Stock Purchase Agreements for Fannie Mae and Freddie Mac
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September 30, 2019
WASHINGTON – The U.S. Department of the Treasury (Treasury) and the Federal Housing Finance Agency (FHFA) today announced that they had agreed to modifications to the Preferred Stock Purchase Agreements (PSPAs) that will permit Fannie Mae and Freddie Mac to retain additional earnings in excess of the $3 billion capital reserves currently permitted by their PSPAs. Under the modifications announced today, Fannie Mae and Freddie Mac will be permitted to maintain capital reserves of $25 billion and $20 billion, respectively. These changes to the PSPAs were recommended in the Treasury Housing Reform Plan (Plan) released on September 5, 2019.
“These modifications are an important step toward implementing Treasury’s recommended reforms that will define a limited role for the Federal Government in the housing finance system and protect taxpayers against future bailouts,” said U.S. Treasury Secretary Steven T. Mnuchin.
To compensate Treasury for the dividends that it would have received absent these modifications, Treasury’s liquidation preferences for its Fannie Mae and Freddie Mac preferred stock will gradually increase by the amount of the additional capital reserves until the liquidation preferences increase by $22 billion for Fannie Mae and $17 billion for Freddie Mac.
Treasury and each of Fannie Mae and Freddie Mac also agreed to negotiate an additional amendment to the PSPAs that would further enhance taxpayer protections by adopting covenants that are broadly consistent with the recommendations for administrative reforms contained in the Plan.
The Plan also recommended that Treasury and FHFA develop recapitalization plans for Fannie Mae and Freddie Mac after identifying and assessing the full range of strategic options. Subsequent amendments to the PSPAs may be appropriate to facilitate the implementation of any eventual recapitalization plans.
Copy of the Fannie Mae agreement.
Copy of the Freddie Mac Agreement.
####
Does anyone know what the mortgage investment portfolio balance is for fannie?
both replies are worthless as usual from any investor relation reply.
i agree
My computator says 99.9% chance traders are waiting on Treasury report before donating to their profits. Tm will be a new day. Peace
maybe it because they are only putting stupid nees out like this:
How to buy a houseJEANNE LEE | BANKRATE - 8:00 AM ET
Buying a house can be an exciting and emotional process. Before starting your home search, you'll want to understand the ins and outs of the homebuying process. This will empower you to make decisions that are the best for your family -- and your wallet.
Is now a good time to buy a house?
Based on mortgage and home-price trends, it's a relatively good time for potential homebuyers. There are opportunities to lock in an affordable mortgage before interest rates begin to climb, as some experts think they soon will begin to do. The 30-year fixed-rate mortgage recently fell below 4 percent. That compares favorably with 4.88 percent a year ago.
Home prices, meanwhile, aren't getting any cheaper. Annual home price growth is expected to increase by 5.4 percent by July 2020, according to real-estate data firm CoreLogic (CLGX). Waiting too long to buy might mean getting priced out of more-desirable neighborhoods.
Who should buy a house?
Taking the leap to homeownership can provide a feeling of pride while boosting your long-term financial wellness, if you go in well-prepared and with your eyes open.
When thinking about buying a home, consider whether you want to put down roots or maintain flexibility with your living situation. How secure is your job, and can you comfortably budget for home repairs and maintenance on top of monthly housing payments? Finally, are you ready to stay in one place and do you have kids or family members to consider?
When should I buy a house?
Spring is the traditional start of the home-buying season, with many listings hitting the market, but it's also a competitive time of year. Buyers can sometimes snag great in the off-season, such as the dead of winter or on holidays when fewer people are looking.
More important than the season, though, is your own financial readiness. This means having your finances organized and your credit in order so that you'll be able to secure a reasonable mortgage in a smooth fashion.
In addition to a down payment, potential home buyers should have enough money set aside to cover the closing costs, which can range from 2 percent to 4 percent of the purchase price.
When budgeting for the monthly payments, factor in not only the principal amount and interest, but also property taxes, homeowners insurance, homeowners association fees and (if putting down less than 20 percent) private mortgage insurance. Don't forget to set aside money for ongoing maintenance and those unexpected repairs that are bound to pop up.
Here are 13 critical steps to buying a house:
Understand why you want to buy a houseCheck your credit scoreCreate a housing budgetSave for a down paymentShop for a mortgageHire a real estate agentSee multiple homesMake an offerGet a home inspectionNegotiate repairsSecure your financingDo a final walk-throughClose on your house1. Understand why you want to buy a house
Purchasing a home is a major decision that shouldn't be taken lightly. If you're not clear on why you want to buy a house, you could end up regretting your decision.
How do I get started?
Define your personal and financial goals. "Buyers should think about things like when they intend on moving, what they want in a home (such as) amenities, ideal location and how long it could take them to save for a down payment," says Edwence Gorges, a sales associate with ReMax Select. "These are all important to help define the goals they would like to meet."
Key takeaways:Make a list of what's important to you in a home. Are you craving stability? Is location the top priority? Any must-have amenities?Does it make sense for you financially? Would renting for another year or two improve your financial standing?Are you prepared for the responsibility of maintaining a home?2. Check your credit score
Checking your credit score will help you determine your financing options; lenders use it ( among other factors ) to set your loan pricing and see if you're able to repay your mortgage. The better your credit history, the better the chances you'll have of securing financing with the best terms and rates.
How do I get started?
You can get your credit score from each of the three major credit reporting agencies -- Equifax (EFX), Experian (EXPGF) and TransUnion (TRU) -- for a nominal fee. Your bank or credit card company might offer free access to your score or credit report, too.
Key takeaways:Consider how different credit score ranges impact your interest rate, monthly payments and total interest. Here's an example:The interest charged on a $300,000 home, depending on your FICO scoreFICO scoreAPRMonthly paymentTotal interest paidSource: MyFico.com760-8504.18%$1,464$226,879700-7594.40%$1,503$240,949680-6994.58%$1,534$252,301660-6794.80%$1,573$266,182640-6595.20%$1,652$294,575620-6395.76%$1,754$331,563Pull your credit reports from each of the credit bureaus for free every 12 months at AnnualCreditReport.com . If you discover any discrepancies, contact each agency and report the error.Also, get your free credit score and credit report on Bankrate.3. Create a housing budget
Setting a realistic budget for your new home will help you know what you can afford and how much your all-in costs will be.
How do I get started?
The purchase price isn't the whole picture. Carefully factor in other expenses to determine what you can afford.
"Buyers tend to forget to factor in other costs like (homeowners association) fees and setting money aside for maintenance costs," says Paige Kruger, Realtor and founder of Signal Real Estate in Jacksonville Beach, Florida. "Just because you can afford a mortgage and a down payment doesn't mean you can afford those long-term costs after you move."
Key takeaways:Determine the maximum loan you qualify for.Decide how much you can set aside for a down payment, closing costs and ongoing maintenance costs.Include a buffer. "I recommend a buyer save $15,000 to $25,000, in addition to their down payment, to cover closing costs or any emergency maintenance that may arise after you close," Georges says.See if your monthly budget can handle the mortgage payment along with other bills such as day care, tuition, utilities, groceries and more.4. Save for a down payment
To avoid private mortgage insurance , or PMI, you'll need to put down at least 20 percent. Some lenders offer mortgages without PMI with lower down payments, but expect to pay a higher interest rate.
"Being willing to buy with less of a down payment gets you into your new home faster, but putting more down lowers your costs," says Casey Fleming, a mortgage adviser with C2 Financial Corp. "The right decision for any particular person or family is highly personal."
How do I get started?
Research the down payment requirements for the loan you want so you know exactly how much you'll need.
If a friend, relative or employer has offered to provide a down payment gift, initiate a conversation early on to learn how much they plan to contribute and if there's any shortfall you'll need to cover.
Key takeaways:Consider options backed by the federal government if you don't have much saved for a down payment. FHA loans, insured by the Federal Housing Administration, require just 3.5 percent down. VA loans and USDA loans require no down payment.Conventional loans backed by Fannie Mae (FNMA) and Freddie Mac (FMCC) require just 3 percent down.Look into a local or state first-time homebuyer assistance program to help with closing costs or your down payment.5. Shop for a mortgage
Getting preapproved for a mortgage is helpful when you make an offer on a house, and it gives you a firmer handle on how much you can afford.
How do I get started?
Shop around with at least three lenders or a mortgage broker to increase your chances of getting a low interest rate.
"You should definitely shop around for a mortgage," Fleming says. "It doesn't take much to get licensed to sell mortgages, but it takes years to understand how the products work and how they impact borrowers. It'll save you heartaches and, most likely, money in the long run."
Key takeaways:Work with an experienced mortgage lender who can walk you through all of the options and overall costs.Ask what first-time homebuyer programs or other incentives are available to you.6. Hire a real estate agent
An experienced real estate agent can save you time and money by helping you find your dream home and negotiate with the seller on your behalf.
How do I get started?
Contact several real estate agents and ask to meet with them for a conversation about your needs before choosing one.
"Someone with knowledge of an area can also tell if your budget is realistic or not, depending on the features you desire in a home," Kruger says. "They can also point you to adjacent areas in your desired neighborhood or other types of considerations to help you find a house."
Key takeaways:Before hiring a real estate agent , find out about their track record, knowledge of your desired neighborhood and what their workload is like. You don't want someone who is over-scheduled.Agents can refer you to other professionals like home inspectors, contractors, appraisers and title companies. However, you should still shop around and compare fees from other professionals.7. See multiple homes
Simply viewing listing photos can't be a substitute for visiting homes in person and getting to know the neighborhood and its amenities.
How do I get started?
Let your real estate agent know what specific homes you want to see, or search online yourself. The real estate agent can create your profile in the local Multiple Listing Service and set up automatic searches for homes that meet your criteria.
Kruger and Georges stress that you may not be able to check off everything on your home amenity wish list, so you'll want to prioritize what's most important to you aside from location.
Key takeaways:Drive through neighborhoods you like to see what's for sale, and attend open houses .Keep notes on each property you visit. After a few showings, it's easy to forget which homes you liked and why.Keep your schedule open so you can pounce when a great home is listed, especially in a competitive seller's market. You could gain an edge over other buyers the sooner you see it and put your offer in.8. Make an offer
Understanding how to make an attractive offer can increase your chances the seller will accept it, putting you one step closer to getting those coveted house keys.
How do I get started?
Once you find "the one," your agent will help you prepare a complete offer package, including your offer price, your preapproval letter, proof of funds for a down payment (this helps in competitive markets) and terms or contingencies . Adding a personal letter to the seller can help your offer stand out.
"Typically, a seller has about 24 hours to counter on an offer," Kruger says.
Key takeaways:Sellers might counteroffer on your price, terms or contingencies. You can respond to the counteroffer or reject it and move on.Once an offer is accepted, you'll sign a purchase agreement that includes the price of the home and estimated closing date. You'll need to pay an earnest money deposit , typically 1 percent to 2 percent of the purchase price. The seller may have a right to keep the money if you back out.Contingency clauses are designed to protect the buyer and typically include appraisal, financing and home inspection. If a home inspection report shows major problems, you can often back out of the contract and get a refund.9. Get a home inspection
A home inspection helps you get an overall picture of the property's mechanical and structural issues. The home inspection will help you determine how to proceed with the closing process. You might need to ask the seller for repairs or decide to back out of the deal if you have a contingency in the contract.
How do I get started?
Get recommendations for home inspectors from your real estate agent, but also be sure to do your own homework before choosing one. Depending on your contract and state of residence, you'll need to complete a home inspection 10 to 14 days after you sign a purchase agreement.
As a buyer, you're responsible for paying the home inspector, and while the fees can vary, you'll pay an average of $300 to $450, according to Angie's List .
Key takeaways:To make sure the home inspector has enough experience, read online reviews, ask for past client references and look at their credentials.Look at the home inspection checklist to understand what is and isn't covered.10. Negotiate repairs, credits
Your home inspection report may reveal major or minor issues. Major problems will likely need to be dealt with before a lender will finalize your loan, while minor issues can often wait till you take possession of the home.
How do I get started?
Enlist your agent's help to negotiate with the seller. Ask for the seller to either do the repairs or give you a credit at closing.
Key takeaways:If there are hazards like structural damage or improper electrical wiring, the lender might not approve the loan. You might not have the budget or desire to handle such repairs after buying the home.Some sellers won't agree to extensive repairs, and that's why a home inspection contingency is a good idea, to give you a way out of the purchase if the home isn't in ideal shape.11. Secure your financing
Getting final loan approval means you need to keep your finances and credit in line during underwriting.
"Generally, it'll take anywhere from 21 to 30 days to complete the financing process," Fleming says. "Delays mostly happen when buyers either don't respond to disclosures quickly enough or don't provide the exact documents that the lender needs."
How do I get started?
Respond promptly to requests for more documentation and double-check your loan estimate to ensure all the details are correct so there are no hiccups later.
You may need to submit additional paperwork as your lender completes the underwriting process , such as:
bank statementstax returnsadditional proof of incomegift letter or written statements explaining major deposits into your bank accountKey takeaways:A preapproval doesn't mean you're in the clear until a lender has given the final stamp of approval. Keep your finances and credit in good shape from preapproval until closing day, and avoid changing jobs before closing on your new home, too.Avoid running up credit cards, taking out new loans, closing credit accounts or changing jobs. Doing any of these things can hurt your credit score or impact your debt-to-income ratio, and that can imperil your final loan approval .12. Do a final walk-through
A final walk-through is an opportunity to view the property before it becomes yours. This is your last chance to view the home, ask questions and address any outstanding issues before the house becomes your responsibility.
How do I get started?
Come with your home inspection checklist and other documents, like repair invoices and receipts for any work the owner conducted, to ensure everything was done as agreed upon and that the home is in move-in ready condition.
Key takeaways:Ask your real estate agent to be there so they can act as a witness and help answer any questions you may have.If repairs or issues haven't been addressed, have your agent communicate immediately with the seller and your lender. Your closing date might have to be delayed to ensure those issues are remedied first.13. Close on your house
Once all contingencies have been met, you're happy with the final walk-through and the closing agent has given the green light to close, it's time to make it official and close on your home . Your lender will issue you a "clear to close" status on your loan.
How do I get started?
Three business days before your closing date, the lender will provide you with a closing disclosure that outlines all of your loan details, such as the monthly payment, loan type and term, interest rate, annual percentage rate, loan fees and how much money you must bring to closing.
At the closing, you (the buyer) will attend, along with your real estate agent, possibly the seller's agent, the seller, in some cases, and the closing agent. Depending on where you live, the closing agent may be a representative from the escrow or title company or a real estate attorney. This is also the time where you'll wire your closing costs and down payment, depending on the escrow company's procedures.
Key takeaways:Before closing, review the closing disclosure carefully and compare it to the loan estimate to ensure closing fees and loan terms are the same. Ask questions about your loan and correct any errors (like your name or personal details) before you sign closing paperwork.On closing day, review all of the documents you sign carefully, and ask for clarification on anything you don't understand.
Make sure you've been provided all house keys, entry codes and garage door openers before leaving closing.You'll leave closing with copies of the paperwork (or a digital file) and your new house keys. Store your paperwork in a safe place for future reference.
Once all of the paperwork has been signed, the home is officially yours and you'll get those house keys. Congratulations! Now comes the fun part: moving in and making the house your home.
Next steps
Buying a home involves a lot of moving parts and complex steps, but this guide -- along with the professional expertise of your real estate agent and lender -- can help you navigate the process smoothly. By doing your homework ahead of time, you'll have more confidence in your decision and relish getting those coveted house keys on closing day.
Ready to shop for a mortgage? Enter your zip code and other details for a quick mortgage rate estimate from Bankrate.
-Bankrate contributing writer Sarah Li Cain wrote the original version of this story.
Learn more:Top tips for first-time homebuyersFirst-time homebuyer mistakes to avoidBest and worst cities for first-time homebuyers© Copyright 2019 Bankrate, Inc. All rights reserved
of course RED
What people dont realize is we are back dated and already hold 3 billion and are already at earnings with another 3. We. Are already ahead of the game
ive given enough time. Do we even know what capital raise plan we are using or is this just whatever they wanna do. (Ref. Noooch and Squid plan)
now were starting to gain some steam. Lets GO FnF!!!
Someone please put this into a layman's wording.
At 3biil. fan 2.51 Fred 4.61 and we are no where near that even on this news. none of it makes sense anymore
what i wanna know is why is there no press??!!!
this is confusing. Either way we should still be up and we are not.
we are dangling a dime carrot over this news when we should jump. this is wierd. Ya cant say nobodies heard yet. thats ignorant
Housing regulator settles sexual harassment suit tied to Mel Watt
Former Director of Federal Housing Finance Agency Melvin Watt. | Alex Wong/Getty Images
By KATY O'DONNELL
09/27/2019 01:49 PM EDT
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The Federal Housing Finance Agency has reached a settlementwith an employee who accused former Director Mel Watt of sexual harassment, ending a 16-month saga that spawned three government investigations and an eight-hour congressional hearing.
The terms of the settlement were not made public, but FHFA special adviser Simone Grimes, who sued the agency for $1 million last year, said she was happy with the resolution of her claims against Watt.
The agreement comes a year to the day after Grimes testified before Congress on the same September morning that Christine Blasey Ford detailed her allegations against Supreme Court nominee Brett Kavanaugh on the other side of the Capitol — a split-screen that marked an extraordinary cultural moment as Washington reckoned with the #MeToo movement.
A lawyer for Grimes cast the settlement as a major win for the two-year-old movement.
“Since the #MeToo movement started, this is the first victory against a Senate-confirmed official,” said John Tye, an attorney at the legal nonprofit Whistleblower Aid. “We think this is an important marker that yes, Senate-confirmed officials are accountable,” he added.
Watt’s five-year term as the director of the FHFA, the regulator responsible for overseeing mortgage giants Fannie Mae and Freddie Mac, ended as scheduled in January. He was not disciplined, despite an inspector general investigation concluding that he had misused his office.
“Accountability might not come the way we want but I think it feels much better to have gone the distance and reached a resolution,” Grimes said in an interview.
“For women facing these issues, coming forward is imperative,” Grimes said. “As we’ve seen with the #MeToo movement, the more people come forward, the more people feel encouraged to come forward.”
Grimes filed a complaint with the FHFA in May 2018, accusing Watt of making repeated sexual advances during conversations ostensibly about her salary. In transcriptsof one 2016 conversation obtained by POLITICO, Watt steered the discussion to his feelings for Grimes. In a separate encounter, he asked about a tattoo on her ankle, saying, “If I kissed that one, would it lead to more?"
The complaint launched three investigations — by the U.S. Postal Service on behalf of the FHFA, by the FHFA inspector general, and by the Equal Employment Opportunity Commission.
Story Continued Below
Grimes then sued the agency in August 2018 for $1 million, alleging that the agency paid her less than the man who had held her position before her and had denied her a raise because she rejected Watt’s advances.
When Grimes complained to Watt that he hadn't addressed her pay situation, the lawsuit said, "Director Watt directed her back to their prior conversations, asserting that, 'You didn't promise me anything, and I didn't promise you anything.'”
The FHFA released a short statement today saying Grimes had raised “serious issues” and that the agency was “pleased to have resolved these matters.”
Watt had refused to participate in an administrative investigation, arguing that as a presidential appointee he was exempt from the FHFA anti-harassment policy for employees that he had signed — a defense that angered lawmakers with oversight of his agency.
“The statute says the policies don’t apply to me; I don’t know how many more times I can tell you that,” Watt told the House Financial Services Committee as he angrily defended himself during the marathon hearing last September.
The imbroglio put lawmakers in an uncomfortable position. Watt, who represented a North Carolina district in Congress for two decades, had been a well-liked member of the committee and a popular figure in the Congressional Black Caucus before President Barack Obama tapped him to be the nation’s top housing regulator in 2014. He was also the last remaining Obama-appointed regulator, with only months left on the job, when the scandal surfaced.
In the days after reporting the investigation last summer, POLITICO sought comment from more than two dozen lawmakers, nearly all of whom ignored requests for comment. It took the Kavanaugh allegations — which thrust Washington into a freshly partisan grappling with the #MeToo movement — to prod action on Watt.
“This is a different day, and a different time,” Rep. Maxine Waters (D-Calif.), then the ranking member of the committee, said during the hearing. Waters, now the chairwoman of the committee, had pushed to have Grimes testify at what had been scheduled as a routine hearing on oversight of the agency.
Story Continued Below
Watt told Congress that the pending lawsuit would “sort through and resolve all factual and legal issues related to her claims.”
Watt was never deposed as a part of the suit, according to lawyers for Grimes, who said it was only after the change in leadership at the agency — new FHFA Director Mark Calabria was sworn in in April — that the agency became responsive to their concerns.
Watt did submit to an interview in the inspector general probe last year, telling investigators that a recording of him saying he was attracted to Grimes meant only that he had “a friendship attraction.”
“We are not persuaded by the explanations offered by the FHFA Director,” the OIG wrote in its report, which was provided to a handful of officials in November and only became public in February, after Watt had stepped down.
Whistleblower Aid, which hired a car to drive around Washington with a rolling billboard saying “Fire Mel Watt” last fall, is now pushing to have the former director’s retirement benefits terminated.
The group raised the idea of revoking the benefits with the White House Counsel’s office, Tye said, adding that the White House said the recommendation should come from Congress.
Grimes, meanwhile, remains an employee at the FHFA but said she has developed a passion for holding organizations accountable.
“You go through something like this and I think it changes you,” she said. “You realize how important it is for there to be more wholesale changes, and while this is a small victory there is more work to be done.”
FILED UNDER: FEDERAL HOUSING FINANCE AGENCY,MEL WATT, FINANCE & TAX
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Dear Mr. TRumpelstillskin,
Now would be a great time for breaking news.
Yours truly
Missed the downturn call by 2 days. Now I'm caught up with my buy .
Although no complaints still up overall by a nice piece of change.
Go FnF!
Funny how FNMFO AND AG ARE THE ONLY STOCKS IN FRED THAT DIDNT DROP.jus govt sayin fu shareholder.
Some will make millions here, I'd bet they are broke in less than 10 years and will never once give any fortune to charity or donate to a political view that assisted in the revival of FnF.
Had every intention to wait for these prices and missed it by 12hrs. Was really waiting for 3.2 im sure we'll hit that now cause i couldnt wait.
Probly why were down.
Mortgage rates increase, just as home-sales activity regains momentum
BY MarketWatch
— 11:01 AM ET 09/19/2019
The Federal Reserve cut interest rates Wednesday, yet rates in the mortgage market still rose
Mortgage rates rose on a weekly basis for the second week in a row, potentially threatening to put a damper on home sales just as the real-estate market's outlook was brightening.
The 30-year fixed-rate mortgage averaged 3.73% during the week ending Sept. 19, rising 13 basis points from the previous week (http://www.marketwatch.com/story/mortgage-rates-jumped-higher-this-week-but-could-they-ever-fall-to-zero- 2019-09-12), Freddie Mac (FMCC) reported Thursday (http://www.freddiemac.com/pmms/index.html?intcmp=CWS-HP). This was only the 11th weekly increase in mortgage rates this year.
The 15-year fixed-rate mortgage increased 12 basis points to an average of 3.21%, according to Freddie Mac (FMCC). The 5/1 adjustable-rate mortgage averaged 3.49%, up 13 basis points.
The Federal Reserve, when it cuts interest rates, is adjusting short-term rates. Mortgage rates, on the other hand, roughly track the direction of the 10-year Treasury note .
However, neither the Federal Reserve nor bond markets were the likely culprit behind this week's increase in mortgages rates. Rather, improving economic data and the higher demand for mortgages, especially to purchase homes, gave lenders room to boost rates.
Read more:Existing-home sales rise 1.3% in August -- the market was expecting sales to fall (http:// www.marketwatch.com/story/existing-home-sales-rise-13-in-august-half-the-growth-rate-compared-to-a-year-ago-2019-09-19)
"While there was initially a slow response to the overall lower mortgage-rate environment this year, it is clear that the housing market is finally improving due to the strong labor market and low mortgage rates," Freddie Mac (FMCC) chief economist Sam Khater said Thursday.
Whether the good times will continue for the housing market is up for debate. Experts have attributed the healthy pace of home sales in recent weeks to falling mortgage rates.
But if rates continue to rise, as they have these last two weeks, buyers' appetite for buying a home will diminish. The inventory of homes for sale across most of the country remains extremely tight, pushing prices higher.
That has made it more expensive to buy a home. When affordability constraints are coupled with the potential for an economic slowdown, a less rosy picture emerges for the housing market.
full of sht story. nothing happening here now that there is litigation from Rump against the CFPB. It would all get rolled back
lol