Consumer homebuying sentiment has plateaued at ‘pessimistic’

Most Americans polled by Fannie Mae last month said they would rather buy than rent, but a record-high 82 percent also said August was a bad time to buy. Continue reading

Purchase loan applications once again at lowest level since 1995

Mortgage rates are climbing back toward 2023 highs as more inflation data comes in hot, spurring fears of another Federal Reserve rate hike in November. Continue reading

Latest jobs numbers could be nail in the coffin for interest rate hikes

Mixed payroll and unemployment report sends long-term interest rates surging, but some analysts say the latest numbers reduce the odds of a September Fed rate hike. Continue reading

Homebuyer mortgage demand picks up for 1st time in 6 weeks

After dipping to the lowest level since April 1995, applications for purchase mortgages edge up 2 percent week over week but are still down 27 percent from a year ago as mortgage rates retreat from 2023 highs. Continue reading

Interest rates stay anchored after Fed chair’s hawkish speech

After an initial swoon, bond markets take Federal Reserve Chairman Jerome Powell’s tough talk on inflation in stride, but the housing sector remains vulnerable to rate hikes. Continue reading

Forecasters see home sales bottoming out this year, and then?

MBA forecasters expect rates to ease and sales to rise next year, but Fannie Mae economists predict home sales will remain subdued even if the Fed pulls off a soft landing. Continue reading

Homebuyer mortgage demand falls to lowest level since 1995

As mortgage rates hit new post-pandemic highs on inflation worries, an MBA survey finds applications for purchase loans fell for the sixth consecutive week last week and are down 30 percent from a year ago. Continue reading

Mortgage rate surpasses 7% in new 2023 high as demand falls again

Even after adjusting for seasonal factors, applications for purchase loans fell for the fifth-straight week as mixed inflation data raised doubts that Fed will ease, pushing mortgage rates to new highs. Continue reading

Rating agencies issue more cautions about banking industry

It’s not just regional banks but larger lenders, such as JPMorgan and Bank of America facing uncertainty if interest rates stay higher for longer, analysts said. Continue reading

Mortgage lenders tighten as homebuyer demand fades

Demand for purchase mortgages fell for a fourth consecutive week last week as rates continued to climb and inventories of homes for sale remained scarce, an MBA lender survey showed. Continue reading