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
Two years ago, nine out of 10 mortgages had rates below 5 percent. Today, there are 5.8 million fewer sub-5 percent mortgages in the market and 1 in 4 borrowers has a higher rate. Continue reading
Investors weigh the potential for higher tariffs, tighter restrictions on immigration, and an extension of 2017 tax cuts to fuel inflation under a second Trump administration. Continue reading
The Federal Reserve’s preferred inflation gauge fell to 2.56 percent in May, getting closer to the Fed’s 2 percent target for the 2nd month in a row. Core inflation reading is lowest since March 2021. Continue reading
“The U.S. housing market is stuck, and we are not convinced it will become unstuck anytime soon,” economists at Bank of America Global Research say of ongoing affordability issues. Continue reading
Elevated mortgage rates continued to curb homebuyer activity in May, NAR reported. As inventory increases in upcoming months, slower home price growth will follow, and likely more buyers hitting the market. Continue reading
Mortgage rates have been on the decline since late April, as closely watched data releases suggest the economy is cooling and that the Fed may start cutting rates as soon as September. Continue reading
Figures in April 2024 for both indices suggested a strong market going into summer. Both the S&P CoreLogic Case-Shiller index and the FHFA HPI rose 6.3 percent on an annual basis. Continue reading
Fannie Mae on Friday slashed its 2024 forecast as a result of weak spring home sales, but listings are returning to the market and mortgage rates look poised to drop, according to new projections. Continue reading
Purchase loan applications have surged for two weeks in a row, but rates for conforming mortgages are inching back up toward 7 percent this week as investors weigh the odds of Fed rate cuts. Continue reading