Show notes:
TMSpotlight:
10.30.23 Whether Fed Tightens or Does Nothing, it will be a "Hazy Shade of Winter"
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Time, time, time. See what's become of BEARS. While BULLS look around for their possibilities.The Less than Zero curve is smaller so the Fed takes solace with high bond yields that provide economic drag. If the Fed tightens on Wednesday, then the long end should rally because it signals a recession sooner and longer.If the Fed does nothing, as expected, then the historically large bet on higher rates creates a short cover rally. As a result, expect mortgage rates to start dropping. But the industry stays in a hazy Shade of Winter.Song: Hazy Shade of Winter (1968) The 1987 Bangles cover of the Simon and Garfunkel hit used the film, Less Than Zero.https://www.youtube.com/watch?v=TxrwImCJCqk
The Lykken on Lending program will feature our Weekly Mortgage Updates with Adam DeSanctis and his MBA Mortgage Minute, and then Les Parker’s TMSpotlight, a macroeconomic perspective on the economy with a music parody. That leads to Matt Graham of MBS Live providing you a rate & market update, followed by David Kittle, Chief Executive Officer @ Cypress Mortgage Capital, to discuss mortgage originations. Then we have Alice Alvey of Union Home providing a regulatory & legislative update, then Allen Pollack giving us a Tech Report on the latest technology impacting our industry. Finally, we wrap up the first half of the program with Marc Helm, Senior Executive Partner @ Transformational Mortgage Solutions, talking about Loan Servicing and the “Agencies”.