As inflation gets closer to Fed’s 2 percent target, economists at Fannie Mae and the Mortgage Bankers Association predict mortgage rates will continue to drop into the low sixes by the end of next year. Continue reading
Applications for purchase mortgages dropped last week for the second week in a row as rising home prices continue to shut many would-be homebuyers out of the market. Continue reading
As for-sale listings continue to surge, many would-be homebuyers are still having trouble finding properties that they can afford and prices are already coming down in some markets Continue reading
Lending industry leaders surveyed by Fannie Mae see the lack of housing supply as the biggest risk factor in 2024, but most expect refinancing to pick up next year if rates continue to fall. Continue reading
One issue for would-be homebuyers seeking jumbo mortgages is that rates haven’t come down as dramatically as they have for conforming mortgages eligible for purchase by Fannie Mae and Freddie Mac. Continue reading
Overall inflation rose just 3 percent on an annual basis in June, according to Bureau of Labor Statistics. The 10-year Treasury yield, an indicator of mortgage rates, plummeted on the news Thursday. Continue reading
NAR Chief Economist Lawrence Yun told CNBC he expects mortgage rates to settle around 6 percent, a prediction he’s made before. A look back at two years of his forecasts amid a chaotic economy. Continue reading
Rates surged and then pulled back last week in what could foreshadow more election-year volatility in the months ahead. Jerome Powell tells Congress Fed will remain above the fray. Continue reading
After spiking after the June 27 presidential debate, mortgage rates are trending down again on mounting expectations that the Federal Reserve will start cutting rates in September. Continue reading
Mortgage rates are on the rebound despite encouraging inflation data, as Fed policymakers warn “higher for longer” rate strategy will remain in place until they see more conclusive evidence the economy has cooled. Continue reading