“Longer-term rates, including mortgage rates, had already baked in the expectation of hikes at this and future meetings,” said Mike Fratantoni, a senior vice president and chief economist at the Mortgage Bankers Association.
NAR attempted to recruit the help of the Federal Bureau of Investigation to crack down on fraud, but was told the bureau didn’t have the resources to pursue the patchwork of cases across the country.
Non-agency market participants have concerns about lender’s choice, but also expect modern credit scoring models to improve visibility into borrower credit behavior.
The yield on the 10-year has increased from 4.8% at the beginning of the Trump administration to above 5.0% this week, even with recent efforts by the Treasury aimed at lowering the yield, such as bond buybacks.
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