Posted To: Pipeline Press
Last night, my wife asked me if I’d seen the dog bowl. I replied, “I didn’t know he could.” Words are important, and the press is spending plenty of them on conjecturing about the Federal Reserve Open Market Committee’s continued nearly daily asset purchases. Those purchases include both Treasury securities and securities backed by mortgages, and we’ll be hearing about the Fed lessening their daily volume as time goes on, as the economy (hopefully) improves. It is important for you to know that tapering isn’t tightening. The Fed “taking its foot off the gas” is not the same as “braking.” We have a long way to go. Those involved in the secondary markets for residential mortgages will tell you that execution when selling loans is currently…(read more)
