Tag Archives: Recession

JPMorgan Chase CEO warns of higher rates, more inflation

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Jamie Dimon thinks interest rates could rise to 8 percent or more. He also said in a new letter that a recession and stagflation could be in the offing. Continue reading →

Gary Keller says ‘right now, real estate is in a recession’

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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 →

Blowout January jobs report has mortgage rates surging again

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Employers added 353,000 workers to their payrolls in January, a “head scratching” jobs report from the Labor Department that kills prospects for a March rate cut “stone dead,” economist says Continue reading →

Demand for purchase mortgages climbs for 3rd week in a row

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Purchase mortgage applications surge by 8 percent as homebuyers seeking to take advantage of the recent decline in rates get an early jump on the spring homebuying season. Continue reading →

Jump in key inflation gauge may delay mortgage rate relief

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Futures markets still hold out hope for a March rate cut, even as annual inflation increased to 3.4 percent in December, moving away from the Fed’s 2 percent goal for the first time since September. Continue reading →

Buyers take rebound in mortgage rates in stride as lenders tighten

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Demand for purchase loans picked up last week as would-be homebuyers took advantage of rates that are still a full percentage point lower than 2023 highs. Continue reading →

Mortgage rates are in free fall as economy continues to cool

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While Fed policymakers had forecast three rate cuts next year, futures markets now see an 85 percent chance of at least six rate cuts after a key inflation metric shows the economy is cooling rapidly. Continue reading →

Lower mortgage rates failed to spur homebuyers into action last week

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Demand for purchase loans has picked up in five of the past seven weeks as mortgage rates continue a dramatic retreat from October highs on expectations of Fed rate cuts. Continue reading →

Fannie Mae, MBA economists still expect mild 2024 recession

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The good news for real estate pros is that closely watched forecasts agree home sales will bottom in Q4 2023, and mortgage rates are looking ready to come down significantly next year. Continue reading →

Mortgage rates inch back up after Powell warns Fed could hike again

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Speaking at an IMF research conference, Powell said the Fed is committed to raising rates as high as needed to bring inflation down, and “we are not confident that we have achieved such a stance.” Continue reading →