Fed Attempts To Quantify Why Mortgage Rates Lag MBS Improvements

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Posted To: MND NewsWire

The Federal Reserve Bank of New York held a workshop today on The Spread between Primary and Secondary Mortgage Rates : Recent Trends and Prospects. William Dudley, the Bank's president told participants the bank had organized the workshop because the topic of the primary-secondary mortgage rate spread is important for current efforts by the Federal Open Market Committee (FOMC) to foster faster economic growth. Because unemployment remains high, the FOMC took action at its September meeting to provide additional monetary accommodation including a new program to purchase an additional $40 billion a month of agency mortgage-backed securities (MBS) and in October it announced it will continue its purchases of agency MBS, undertake additional asset purchases , and employ its other tools as appropriate...(read more)

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Source: www.mortgagenewsdaily.com

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