Participants in the agency MBS market said if the Trump administration wants to release the GSEs from conservatorship, it should be done in a way that preserves many of the functions currently provided by Fannie Mae and Freddie Mac.
The Trump White House wants the Fed to cut rates but with employment healthy and U.S. deficits growing larger, that’s not likely to happen. One casualty: MBS prices.
Ongoing affordability issues and volatility in the financial markets combined to suppress purchase-mortgage lending in the first quarter. Meanwhile, refi volume was up nearly 50% from a year ago. (Includes four data tables.)
FHFA Director Bill Pulte sees himself as an advocate for the housing market. He said FHFA is working to increase the number of homes for sale. Details were scant on the effort and on potential GSE shifts.
MBA is largely happy with changes made so far by the Trump administration. Bob Broeksmit, president and CEO of the MBA, said the administration is creating certainty, clarity and stability for mortgage companies.