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Podcast: Lykken on Lending
Episode: "The Weight" Takes Time - TMSpotlight by Les Parker
Description: 08-26-24 "The Weight" Takes Time--------------------------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 mortg...