As mortgage rates hit new post-pandemic highs on inflation worries, an MBA survey finds applications for purchase loans fell for the sixth consecutive week last week and are down 30 percent from a year ago. Continue reading
Federal Reserve policymakers keep their options open for another rate hike in September, but futures markets investors and some economists think the Fed is probably done hiking rates. Continue reading
Housing costs were again the largest contributor to inflation, accounting for more than 70 percent of the annual increase of the Consumer Price Index, according to new Bureau of Labor Statistics data. Continue reading
Strong jobs numbers and GDP growth have bond market investors convinced it’s all but certain the Federal Reserve will resume rate hikes this month. Continue reading
Rates for mortgages backed by Fannie and Freddie continue to ease despite Federal Reserve Chairman Jerome Powell’s tough talk on inflation, but liquidity issues put pressure on bigger loans. Continue reading
The impact of high housing costs is expected to fall out of inflation, giving cover for the Federal Reserve to stop raising interest rates, economists said. But there are still warning signs. Continue reading
Fannie Mae economists say “extraordinarily tight” inventories of existing homes driven by mortgage lock-in effect has shifted demand toward new homes. Continue reading
Applications for purchase mortgages rose 5 percent last week, but a strong jobs report and ongoing bank instability are pushing mortgage rates back up. Continue reading
Bank failures and potential debt ceiling showdown are wildcards for Fed policymakers weighing their next move as the threat of recession looms. Continue reading
Jerry Grantham, co-founder of the investment firm GMO, said this week he fears another bubble is about to burst, with the crisis that gripped the banking system in March just the beginning. Continue reading