Fed Chairman Jerome Powell hinted Wednesday that the U.S. central bank is looking to dial back the pace of interest rate hikes as soon as the impact of previous increases shows up in inflation data. Continue reading
Decline in purchase applications aligns with slower homebuilding activity due to reduced buyer traffic and ongoing building material shortages, according to the Mortgage Bankers Association. Continue reading
Housing costs were one of the biggest drivers of inflation in June, pushing higher at a pace unseen since 1990, according to a report Wednesday from the Bureau of Labor Statistics. Continue reading
Purchase loan applications continue to be weaker “due to the combination of much higher mortgage rates and the worsening economic outlook,” said MBA forecaster Joel Kan. Continue reading
Although fears of a recession are bringing mortgage rates down, would-be homebuyers aren’t rushing to apply for loans, according to a weekly survey of lenders. Continue reading
Purchase mortgage applications are still down 10% from a year ago, with mortgage rates nearly doubling in the last 12 months, according to a survey by the Mortgage Bankers Association. Continue reading
Interest rates and out-of-whack supply and demand have Federal Reserve Chair Jerome Powell calling for a market “reset.” Jay Thompson offers his take on what that means for the real estate industry. Continue reading
Higher mortgage rates are now “housing market’s primary constraint,” economists at Fannie Mae said in a new forecast predicting home sales will fall 13.5 percent this year. Continue reading
Jerome Powell on Wednesday acknowledged the tough situation buyers now find themselves in, adding that “We need to get back to a place where supply and demand are back together.” Continue reading
After bond market sell-off Friday and Monday, investors take Fed’s 75 basis-point rate hike in stride. “The Fed managed to hint at today’s move,” said the CEO of one capital markets advisory firm. Continue reading