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
Fed Chair Jerome Powell says a rate cut at the central bank’s next meeting is not “the base case,” with policymakers wanting to see more data showing inflation is on a sustainable path down to 2 percent. 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
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
Trend could bode well for the spring homebuying season, the Mortgage Bankers Association said Wednesday, but Fed may take its time before cutting rates. Continue reading
Futures markets still hold out hope for a March rate cut, even as annual inflation increased to 3.4 percent in December, moving away from the Fed’s 2 percent goal for the first time since September. Continue reading
Demand for purchase loans picked up last week as would-be homebuyers took advantage of rates that are still a full percentage point lower than 2023 highs. Continue reading
Does the rapid slowdown in the economy mean a recession is now inevitable in the new year, or is a “soft landing” still possible? Economists are divided on the nation’s economic outlook for 2024. Continue reading
Recent decline in rates is “some cause for optimism,” but requests for purchase loans are still down 12 percent from a year ago. Continue reading