A key Fed inflation metric, the PCE price index, continues to drop toward the Fed’s 2 percent inflation target, falling from 2.6 percent annual growth in December to 2.4 percent in January. Continue reading
With mortgage rates hovering above 7 percent, requests for purchase loans were down by a seasonally adjusted 5 percent week over week and 2 percent lower than a year ago. Continue reading
The additional boost to 2024 home sales might come at the expense of slightly slower growth next year due to elevated mortgage rates, forecasters said. Continue reading
After picking up during the first three weeks of January, applications for purchase loans are contracting, with mortgage rates no longer in free fall from 2023 highs. Continue reading
Consumer sentiment toward housing increased to the highest level in nearly two years in January, with a record number of Americans expecting mortgage rates to come down in the year ahead. Continue reading
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
Firming up of mortgage rates finally catches up with homebuyer demand, with applications for purchase loans falling by a seasonally adjusted 11 percent last week, MBA survey shows. Continue reading
With listings still in short supply, homebuyers are “dealing with an affordability shock” and new homes will play an outsize role in housing markets, Zonda Chief Economist Ali Wolf said at ICNY. Continue reading
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
Fannie Mae economists no longer expect a recession and are considerably more optimistic that mortgage rates have additional room to come down below 6 percent. Continue reading