Rates surged and then pulled back last week in what could foreshadow more election-year volatility in the months ahead. Jerome Powell tells Congress Fed will remain above the fray. Continue reading
Fannie Mae’s monthly National Housing Survey shows many Americans may be underestimating the odds that mortgage rates will continue to pull back from 2024 peaks. Continue reading
After spiking after the June 27 presidential debate, mortgage rates are trending down again on mounting expectations that the Federal Reserve will start cutting rates in September. Continue reading
Mortgage rates are on the rebound despite encouraging inflation data, as Fed policymakers warn “higher for longer” rate strategy will remain in place until they see more conclusive evidence the economy has cooled. Continue reading
The Federal Reserve’s preferred inflation gauge fell to 2.56 percent in May, getting closer to the Fed’s 2 percent target for the 2nd month in a row. Core inflation reading is lowest since March 2021. Continue reading
“The U.S. housing market is stuck, and we are not convinced it will become unstuck anytime soon,” economists at Bank of America Global Research say of ongoing affordability issues. Continue reading
Mortgage rates have been on the decline since late April, as closely watched data releases suggest the economy is cooling and that the Fed may start cutting rates as soon as September. Continue reading
Fannie Mae on Friday slashed its 2024 forecast as a result of weak spring home sales, but listings are returning to the market and mortgage rates look poised to drop, according to new projections. Continue reading
Purchase loan applications have surged for two weeks in a row, but rates for conforming mortgages are inching back up toward 7 percent this week as investors weigh the odds of Fed rate cuts. Continue reading
Key Fed inflation metric expected to drop June 28 following unexpected decline in May wholesale prices and jump in jobless claims to highest level since August 2023. Continue reading