Show notes:
TMSpotlight:
7.08.24 Liquidity is running dry, "It’s So Lonesome it Could Cry."
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Hear that lonesome Repo well. It sounds too low to fly.
Last week, the implied likelihood of a September Fed rate cut rose to 73%. Over a week ago, it was 62%.
Bonds cry for a “higher for longer” Fed. But the fall of the dollar and the steadfastness for gold suggest that turmoil is ahead.
Recently, clogged bank balance sheets caused a spike in repo rates while reserve balances declined. Will the Fed accelerate the QT taper that it began in late 2023?
Liquidity is running dry, It’s So Lonesome it Could Cry.
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Song: I'm So Lonesome I Could Cry (1949)
https://www.youtube.com/watch?v=4WXYjm74WFI Hawk William’s classic 1949
HousingWire article about NAR settlement
Real Estate Correction: How shrinking commissions could lead to a stronger industry
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”.