CREDIT DAYBOOK AMERICAS: Full Focus on Mortgage Shrinking During Fed Meeting

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Mortgage investors are watching the Fed meeting today for signs of when the pace of buying could slow.

  • The central bank is not expected to announce the changes at this meeting, but the words of Fed Chairman Jerome Powell will be scrutinized.
    • Investors began to set prices for eventually buying mortgages, forming a consensus on a start date in the first quarter of next year.
    • This is reflected in the estimates: Fannie Mae’s 30-year current coupon, split between 5- and 10-year Treasury yields – a popular metric – closed at 0.74% on Tuesday, closing …

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