The Fed has announced another 25 basis points reduction in the overnight rate after their December FOMC meeting. The reduction was in line with what the financial markets were expecting. The surprise came when the Fed announced that they will only reduce rates twice during 2025 and not the anticipated four times as they have previously indicated.
The financial industry is awaiting the much-anticipated rate announcement by the Fed after their December FOMC meeting. The market is expecting the Fed to lower the overnight rate by another 25 basis points. The 10 Year Treasury rate has risen sharply during the month of November heading towards 4.50% which most economists deem risky for the economy.
Click to read the most recent MSR Market Update! – Here we go again! Mortgage rates and all other rate indices continue their roller-coaster ride quarter after quarter. After so much anticipation of lower mortgage rates to remain throughout the rest of 2024, rates took a sharp U-turn and are back up about 68 basis points from their lows on September 30, 2024. The current rates reversal is significant since it took such a short time to get to back up to the same point where market rates were just three months ago. Click to read the full market update!
Described below within relevant tabs, you’ll find a listing of our Q3 2024 technology developments. This update also includes technology release notes for MCT’s MSRlive! and Business Intelligence tools.
The Fed has finally cut the overnight rate by 50 basis points, a larger cut than what was anticipated. The mortgage market had already built in the rate cut in their offerings; Mortgage rates continued their downward trend during the month of September;
