Falling interest rates are never good for the value of mortgage servicing rights. But with so many MSR owners keeping their 3% to 4% rights of 2020 and 2021 and selling the rest, marks for the third quarter of 2024 could be benign.
The Federal Reserve announced a 50-basis-point reduction in the federal funds rate this week. Interest rates on mortgages have come down by more than that in recent weeks in anticipation of the Fed’s move.
More than a week after a Fed official outlined a planned re-proposal to adjust capital requirements for large banks, industry participants are still waiting for the formal document.
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