As rates on conventional mortgages head back above 7 percent, homebuyer demand for purchase loans is wilting, with applications dropping for a third week in a row last week, according to an MBA survey. Continue reading
Bond market investors who fund most mortgages shrugged off hawkish remarks by Federal Reserve Governor Christopher Waller that he wants to see “several more months of good inflation data” before cutting rates. Continue reading
Homebuyers have yet to respond in force to drop in rates, which have been in retreat from 2024 highs for three consecutive weeks following Fed easing and soft jobs and CPI reports. Continue reading
Some borrwers were quick to spring into action, with applications for purchase loans rising by a seasonally adjusted 2 percent and requests to refinance up 5 percent week over week. Continue reading
Fannie Mae survey finds 67 percent of Americans agree that it’s a good time to sell, the highest level in nearly 2 years. But only 20 percent say it’s a good time to buy. Continue reading
Rates have been in retreat as bond market investors who fund most mortgage loans react to the latest economic news and scaleback in tightening by Fed policymakers. Continue reading
Federal Reserve policymakers say they’ll slow the pace of “quantitative tightening” to $40 billion a month, less than half the pace envisioned 2 years ago. Continue reading
Requests for purchase loans were down 1 percent week over week and 15 percent from a year ago, according to the latest Mortgage Bankers Association survey. Continue reading
Mortgage rates have already reclaimed much of the territory ceded last year and are poised to continue rising this week as inflation continues to run hot. Continue reading
Jamie Dimon thinks interest rates could rise to 8 percent or more. He also said in a new letter that a recession and stagflation could be in the offing. Continue reading