Show notes:
TMSpotlight:
08.26.2024 “The Weight” Takes Time
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Take a load to Fannie. Take a lock for free. Ship The Weight to Ginnie.
Our target of a sub-6% mortgage is 50 bps away. Softening Jobs and receding inflation expectations give credence to the FOMC minutes and Powell’s speech, signaling a September ease. Market exuberance has built 100 bps of easing by New Year’s Eve.
Oxford Economics expects the 2-year/10-year yield curve slope to shift entirely into positive territory by the first quarter. The stubborn inversion means lower mortgage rates will take time.
And (close) (close) loans borrowers right with glee.
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Song: The Weight (1968)
https://www.youtube.com/watch?v=FFqb1I-hiHE
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”.