Show notes:
TMSpotlight:
08-05-2024 Mortgage Rates “Take It Easy”
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Fed is loose, and we will win
Though let us never go back again
So open up, Loans climbin’ in
So take it easy
In May when mortgage rates were 7.25, you heard me on Lykken On Lending say that mortgage rates would drop significantly before the end of the year and probably below 6%. Friday closed at 6.40, 2/3 of the way there.
The latest tame inflation and signs of recession suggest the next recession will affect more countries than usual. Expect global liquidity troubles to create significant dips and bumps along the rate road. So, the Fed’s easing
We oughta take apps easy
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Song: Take It Easy (1972) Eagles
Legislative Update:
Here is the link to the MBA response to the CFPB RFI
Here is the link to read the comments posted on the CFPB RFI on closing costs:
Here is the CFPB tool that is supposed to give consumers a comparison of their loan to other lenders in the state.
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”.