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
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
Demand for mortgages at lowest level since December 2018 as bottom falls out of refinancing market. Continue reading
Economic uncertainty and stock market volatility may have helped drive 12 percent decline in purchase mortgage applications. Continue reading
While an abrupt shift in policy isn’t expected, Fed Chair Jerome Powell affirms that, “If things come in better than we expect, then we’re prepared to do less” tightening. Continue reading
The Federal Reserve will double the pace of its tapering of support for mortgage markets, as falling unemployment and worries about inflation outweigh uncertainty around the potential health and economic impacts of the Omicron variant. Continue reading
Speaking before the Senate Banking Committee Federal Reserve Chair Jerome Powell said the recent rise in COVID-19 cases and the emergence of the Omicron variant does pose “downside risks to employment and economic activity and increased uncertainty for… Continue reading
Fed policymakers are prepared to adjust the pace of asset purchases if inflation continues to run hot, minutes of their Nov. 3 meeting show. Continue reading