Tag Archives: economy

Mortgage rates are in free fall on a triple whammy of economic news

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Jobs reports trigger recession fears, sending rates on 30-year fixed-rate mortgages plunging to new 2024 lows as investors rotate out of stocks and into bonds. Continue reading →

Mortgage rates continue descent as Fed hints at September rate cut

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Fed policymakers are acknowledging that while they’re determined not to cut rates until inflation is tamed, they’re also worried about waiting too long — and throwing the economy into a tailspin. Continue reading →

Inflation cools again in June, giving mortgage rates room to ease

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As inflation gets closer to Fed’s 2 percent target, economists at Fannie Mae and the Mortgage Bankers Association predict mortgage rates will continue to drop into the low sixes by the end of next year. Continue reading →

Falling mortgage rates have yet to translate into pricier home sales

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Applications for purchase mortgages dropped last week for the second week in a row as rising home prices continue to shut many would-be homebuyers out of the market. Continue reading →

Economists predict big slowdown in home price appreciation

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As for-sale listings continue to surge, many would-be homebuyers are still having trouble finding properties that they can afford and prices are already coming down in some markets Continue reading →

Eyeing next refi boom, lenders plan to maintain or grow payrolls

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Lending industry leaders surveyed by Fannie Mae see the lack of housing supply as the biggest risk factor in 2024, but most expect refinancing to pick up next year if rates continue to fall. Continue reading →

Big drop in mortgage rates fuels refis, but homebuyers unmoved

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One issue for would-be homebuyers seeking jumbo mortgages is that rates haven’t come down as dramatically as they have for conforming mortgages eligible for purchase by Fannie Mae and Freddie Mac. Continue reading →

FHA, VA requests drive pickup in purchase mortgage demand

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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 →

Homebuyer sentiment rebounds in June from May’s record low

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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 →

Mortgage rates retreating from 7% on ‘massive’ revision to jobs report

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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 →