Posted To: Pipeline Press

There’s a fine joke about bowling balls and tennis balls and golf balls which I won’t repeat here, but let’s go down the scale of “numerical magnitude.” Today, the NY Federal Reserve Trade Desk is set to surpass $1 trillion (with a “T”) in MBS purchases since the restart of QE on March 16. (By the way, should the Fed tell everyone what it is buying that day, or next week?) What does one billionaire give to another billionaire on their birthday? According to MBA’s estimate, 3.6 million homeowners are in forbearance plans. Eliminating commas in numbers and ratcheting down, executive pay at public companies has adjusted during COVID, often not for the better. Lastly, and there is no smooth way to work this in, in the 1960s the U.S. Army Corps of…(read more)

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Source: Mortgage News Daily