"At the same time, Trump has been pressuring the Fed to cut interest rates, even interviewing possible successors to Chair Jerome Powell, whose term expires in May 2026. We need rates lower across the board, and that opportunity is going to be there not because of Lisa Cook being there or not. But the truth is, it's there because the data supports it, Ishbia said."
"The CME Groups FedWatch tool shows that 96% of market watchers expect a 25-bps cut following the conclusion of the Fed's meeting on Sept. 17. While benchmark rates aren't directly tied to mortgage-backed securities, Ishbia said a cut would be a great marketing piece for all of us in the industry. He added that refinances are already active, with volume up 66% in the first half of 2025 compared to the prior year."
A nominee was accused of mortgage fraud for claiming a primary residence in two locations, prompting calls for removal by Director Bill Pulte and President Trump. The president has been pressing the Federal Reserve to lower interest rates and has interviewed potential successors to Chair Jerome Powell, whose term ends in May 2026. Markets show strong probability of a 25-basis-point cut in September, which would support mortgage marketing and refinancing activity that rose 66% in H1 2025. The U.S. Court of Appeals cleared a plan to cut roughly 90% of CFPB staff, greatly diminishing the bureau's future scope.
Read at www.housingwire.com
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