The next Fed chair may be more receptive to the president’s calls for rate cuts, but they’ll have to convince other central bank policymakers to give up their independence. Continue reading
Initial unemployment claims hit highest level since September, and Federal Reserve Chair Jerome Powell warns official data could be overestimating job creation by up to 60,000 jobs a month. Continue reading
Fannie Mae forecasters are predicting mortgage rates will fall below 6 percent by the end of next year. Economists at the Mortgage Bankers Association don’t see rates coming down at all. Continue reading
After hitting a 2025 low on Oct. 28, mortgage rates continue to rise as hopes dim for a December Fed rate cut. Futures market investors on Wednesday saw only a 34 percent chance of a Dec. 10 rate cut, down from 94 percent in October. Continue reading
Rebounding mortgage rates didn’t stop buyers from shopping for deals last week, with requests for purchase loans up 6 percent last week compared to the week before and 31 percent from a year ago, according to lender data tracked by the Mortgage Bankers… Continue reading
The Treasury Secretary blamed the Federal Reserve for the current housing recession and said that if the central bank cut interest rates more quickly, the recession could end. Continue reading
After the Federal Reserve approved the second rate cut of the year, mortgage rates moved in the opposite direction as investors who fund most home loans worry about inflation. Continue reading
Fed chair dismisses suggestion that central bank could resume its purchases of mortgage-backed securities to bring down mortgage rates and improve housing affordability. Continue reading
Applications for purchase mortgages hit their highest level since July last week, and rates keep falling on weak jobs reports and more encouraging inflation data Continue reading
Rebenchmarking that suggests the U.S. added 911,000 fewer jobs than previously thought generates political heat but was widely expected by economists and investors. Continue reading