Loan applications slipped to lowest level since 1995 as mortgage rates climb for the seventh week in a row, according to a weekly survey of lenders by the Mortgage Bankers Association. Continue reading
The Fed chair acknowledged that in principle, elevated term premiums — higher rates of return bond investors are demanding to compensate them for risk — could reduce the need for further rate hikes. Continue reading
Fed Governor Michelle Bowman warns bankers that she thinks the Fed may need to hike rates more than once and keep them high next year to get inflation under control. Continue reading
Treasury yields, a barometer for mortgage rates, barely budged Wednesday as bond market investors look ahead to next year when the Fed is expected to start bringing short-term rates back down. Continue reading
The Consumer Price Index increased 0.6 percent in August, faster than the July rate of 0.2 percent, according to data released Wednesday. Continue reading
As mortgage rates hit new post-pandemic highs on inflation worries, an MBA survey finds applications for purchase loans fell for the sixth consecutive week last week and are down 30 percent from a year ago. Continue reading
Federal Reserve policymakers keep their options open for another rate hike in September, but futures markets investors and some economists think the Fed is probably done hiking rates. Continue reading
Housing costs were again the largest contributor to inflation, accounting for more than 70 percent of the annual increase of the Consumer Price Index, according to new Bureau of Labor Statistics data. Continue reading
Strong jobs numbers and GDP growth have bond market investors convinced it’s all but certain the Federal Reserve will resume rate hikes this month. Continue reading
Rates for mortgages backed by Fannie and Freddie continue to ease despite Federal Reserve Chairman Jerome Powell’s tough talk on inflation, but liquidity issues put pressure on bigger loans. Continue reading