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QE2 may be coming but will a mortgage pricing war follow?

As mortgage rates move lower and expectations of a second round of quantitative easing, or QE2, rise, analysts at Bank of America Merrill Lynch (BAC: 13.15 0.00%) said banks may begin a race to a new pricing bottom to gain more market share.

Federal Reserve Bank of New York Executive Vice President Brian Sack hinted that the Federal Reserve will soon begin to purchase mortgage-backed securities as part of quantitative easing and larger economic stimulus. Thanks to these and other statements, banks have put away their fear for higher rates, and reports have trickled in of new hiring in origination departments. Since 2006, mortgage employment has fallen from 494,000 to 244,000 at the end of the second quarter of 2010. \

Read More: http://bit.ly/bR7Ppc






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