N.Y. Fed President John Williams Offers Economic Outlook

NEW YORK–John Williams, President and CEO of the Federal Reserve Bank of New York, offered an optimistic but measured view of the economy during a session at MBA’s Secondary and Capital Markets Conference.

U.S. Economy Grew 2.8% in Q2; MBA Economist Weighs In

The real gross domestic product increased at an annual rate of 2.8% in the second quarter of 2024, per the “advance” estimate released by the U.S. Bureau of Economic Analysis.

Fed Sends ‘Loud and Clear’ Message on Low Rates

There were no real surprises coming out of yesterday’s Federal Open Market Committee meeting—there haven’t been for months, now—but according to Mortgage Bankers Association Chief Economist Mike Fratantoni, the message it sent was loud and clear.

MBA Chart of the Week: Home Sales and Purchase Applications

As the U.S. economy works its way through the current pandemic and recession, housing has been a clear bright spot in an otherwise dire time. This week’s chart highlights the “V” shaped recovery exhibited by various measures of housing health.

Fannie Mae: U.S. Economy Poised for ‘Substantial Rebound’

Fannie Mae, Washington, D.C., said in the wake of the U.S. economy’s historic second-quarter contraction—nearly 40 percent—the strong rate of economic recovery seen in May and June sets up the third quarter for a “substantial rebound.”

2nd Quarter GDP Takes One to the Chin

We were warned that second quarter gross domestic product data was going to be bad. Even so, the numbers that came out yesterday were off the charts–literally.

Fed: No Change in Policy Anytime Soon

The Federal Open Market Committee yesterday said ongoing concerns about the coronavirus and the resulting economic stall means it will hold fast on its current policies.

An Upbeat Jobs Report, Followed by a ‘Misclassification Error’

At 8:30 a.m. on Friday, the Bureau of Labor Statistics issued a surprising May unemployment report: instead of the 8 million job losses expected by economists’ consensus, the report showed a dramatic 2.5 million increase in jobs, and a 1.4 percent dip in the unemployment rate, from 14.7 percent in April to 13.3 percent. But there was a catch–a huge catch.