Inflation Pressures Are Easing but Rate Cut Forecast Remains Uncertain

The New Year is beginning where the old one ended -- with uncertainty about when – or whether – the Federal Reserve will begin cutting interest rates.

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Financial institutions thought the Attorneys’ General agreement resolving the “robo-signing” mess would corral the potential liability they faced for flawed foreclosure practices.  But a pending court decision threatens to open the foreclosure liability box anew.

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Economic reports – on employment, manufacturing, retail sales and even housing (sort of) ― have been increasingly, though not consistently, positive, providing persuasive if not entirely conclusive evidence that the recovery is on track and gaining strength. Why then are consumers still so uncertain about the economy’s prospects and their own?

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The betting is heavy but the odds are mixed on whether Edward DeMarco, the head of the Federal Housing Finance Agency (FHFA) will bow to pressure and allow Fannie Mae and Freddie Mac to reduce the principal balance on some mortgages in order to help borrowers avoid foreclosure.

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Bidding wars.  There’s a phrase that hasn’t been heard (other than during card games) for several years.  But real estate agents in several markets are reporting increasing competition among prospective buyers for a limited supply of homes for sale.