The mortgage industry keeps pining for a rate cut but so far the Fed has resisted. This week, a hotter-than-anticipated CPI reading stalled momentum on the rate front and MBS prices headed lower.
When nonbanks suffer in the origination game, so do their bankers. According to the latest analysis from Inside Mortgage Finance, warehouse commitments totaled $96.0 billion at yearend. (Includes data table.)
What does the stalled mortgage job market need? An interest rate cut by the Federal Reserve. Otherwise, limited hiring and layoffs will be the order of the day.