The Federal Reserve should buy mortgage-backed securities as well as Treasuries to support the economic recovery, according to Paul McCulley, a managing director at Pacific Investment Management Co.Read more >> Read More National Mortgage News
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Gross says mortgage yields would soar without government aid
Bill Gross, who runs the world’s biggest mutual fund at Pacific Investment Management Co., said mortgage yields in the U.S. could rise as much as 4 percentage points without government support. “Ninety-five percent of existing mortgage creation over the past 12 months were government guaranteed,” Gross wrote in a monthly investment outlook posted on Pimco’s [...]
U.S. banks may face less pressure for mortgage refunds, Oppenheimer says
Bank of America Corp., JPMorgan Chase & Co. and four more of the largest U.S. home lenders face $7.4 billion of losses over the next year tied to mortgage repurchases, less than some analysts have predicted, according to Oppenheimer & Co. Costs may be curtailed because mortgages are going bad at a slower rate, Oppenheimer [...]
Bernanke says Fed will do ‘all it can’ to ensure U.S. recovery
Federal Reserve Chairman Ben S. Bernanke said the U.S. central bank “will do all that it can” to ensure a continuation of the economic recovery and said more securities purchases may be warranted if growth slows.Read more >> Read More National Mortgage News
