A key Fed inflation metric, the PCE price index, continues to drop toward the Fed’s 2 percent inflation target, falling from 2.6 percent annual growth in December to 2.4 percent in January. Continue reading
With mortgage rates hovering above 7 percent, requests for purchase loans were down by a seasonally adjusted 5 percent week over week and 2 percent lower than a year ago. Continue reading
The real estate industry took a beating in 2023 — rising mortgage rates froze home sales, consumer sentiment slid to new lows, several landmark lawsuits threatened buyer-broker commissions, and the National Association of Realtors couldn’t keep itself … Continue reading
The additional boost to 2024 home sales might come at the expense of slightly slower growth next year due to elevated mortgage rates, forecasters said. Continue reading
Applications for purchase loans plummeted by a seasonally adjusted 10 percent last week, according to a survey of lenders by the Mortgage Bankers Association. Continue reading
Building costs will rise between 3 percent and 6 percent throughout 2024, depending on the market, according to data released Tuesday by cost management firm Currie and Brown. Continue reading
Most real estate professionals believe rate cuts by the Fed will be crucial for a sales recovery, according to results from the Inman Intel Index survey. But the timing on those cuts is hazy. Continue reading
Lender survey shows applications from homebuyers is down 12 percent from a year ago, as mortgage rates continue to rebound from December lows on stubborn inflation data. Continue reading
After picking up during the first three weeks of January, applications for purchase loans are contracting, with mortgage rates no longer in free fall from 2023 highs. Continue reading
Consumer sentiment toward housing increased to the highest level in nearly two years in January, with a record number of Americans expecting mortgage rates to come down in the year ahead. Continue reading