Tag Archives: federal reserve

Demand for mortgages hits lowest level in more than 20 years

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High mortgage rates, challenging affordability and a gloomier economic outlook are keeping buyers on the sidelines, Mortgage Bankers Association forecaster Joel Kan said. Continue reading →

Will lower mortgage rates revive homebuyer demand?

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The largest weekly decline in mortgage rates since 2020 sparks increase in home loan applications after four weeks of declining demand, MBA’s survey says. Continue reading →

Fed’s steady approach to rate hikes could ease pressure on mortgages

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Fed Chairman Jerome Powell hinted Wednesday that the U.S. central bank is looking to dial back the pace of interest rate hikes as soon as the impact of previous increases shows up in inflation data. Continue reading →

Housing costs eyed as major culprit in latest 9.1% inflation hike

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Housing costs were one of the biggest drivers of inflation in June, pushing higher at a pace unseen since 1990, according to a report Wednesday from the Bureau of Labor Statistics. Continue reading →

Demand for refinancing ticks up slightly as mortgage rates plateau

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Purchase loan applications continue to be weaker “due to the combination of much higher mortgage rates and the worsening economic outlook,” said MBA forecaster Joel Kan. Continue reading →

Mortgage rates easing on recession fears, but homebuyers not biting

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Although fears of a recession are bringing mortgage rates down, would-be homebuyers aren’t rushing to apply for loans, according to a weekly survey of lenders. Continue reading →

Demand rebounds as mortgage rates retreat from 2022 peak

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Purchase mortgage applications are still down 10% from a year ago, with mortgage rates nearly doubling in the last 12 months, according to a survey by the Mortgage Bankers Association. Continue reading →

What’s a ‘reset’ anyway? A veteran’s take on the Fed chair’s comments

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Interest rates and out-of-whack supply and demand have Federal Reserve Chair Jerome Powell calling for a market “reset.” Jay Thompson offers his take on what that means for the real estate industry. Continue reading →

Fannie Mae downgrades home sales expectations for 2022 and 2023

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Higher mortgage rates are now “housing market’s primary constraint,” economists at Fannie Mae said in a new forecast predicting home sales will fall 13.5 percent this year. Continue reading →