Inflation rose 0.4 percent in February to an annual rate of 3.2 percent, with shelter and gas costs contributing substantially to the uptick, according to the the Bureau of Labor Statistics’ Consumer Price Index. Continue reading
Purchase loan applications jump by a seasonally adjusted 11 percent after five consecutive weeks of declines as mortgage rates continue to retreat from 2024 highs. Continue reading
The Federal Reserve’s moves to trim $35 billion in mortgages from its balance sheet each month could keep mortgage rates from falling dramatically this year. Continue reading
A key Fed inflation metric, the PCE price index, continues to drop toward the Fed’s 2 percent inflation target, falling from 2.6 percent annual growth in December to 2.4 percent in January. Continue reading
With mortgage rates hovering above 7 percent, requests for purchase loans were down by a seasonally adjusted 5 percent week over week and 2 percent lower than a year ago. Continue reading
The real estate industry took a beating in 2023 — rising mortgage rates froze home sales, consumer sentiment slid to new lows, several landmark lawsuits threatened buyer-broker commissions, and the National Association of Realtors couldn’t keep itself … Continue reading
The additional boost to 2024 home sales might come at the expense of slightly slower growth next year due to elevated mortgage rates, forecasters said. Continue reading
Applications for purchase loans plummeted by a seasonally adjusted 10 percent last week, according to a survey of lenders by the Mortgage Bankers Association. Continue reading
Building costs will rise between 3 percent and 6 percent throughout 2024, depending on the market, according to data released Tuesday by cost management firm Currie and Brown. Continue reading
Most real estate professionals believe rate cuts by the Fed will be crucial for a sales recovery, according to results from the Inman Intel Index survey. But the timing on those cuts is hazy. Continue reading