With listings still in short supply, homebuyers are “dealing with an affordability shock” and new homes will play an outsize role in housing markets, Zonda Chief Economist Ali Wolf said at ICNY. 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
The mortgage lock-in effect that plunged the 2023 housing market into a deep freeze has finally started to thaw, according to a new Redfin market report published on Thursday. 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
Interest rates are poised to fall in 2024 — a piece of much-needed news for the millions of would-be buyers and sellers who’ve been locked out of the market after an extraordinary rise in rates from 2022 to 2023. However, if burgeoning economic tailwin… Continue reading
A record number of consumers surveyed by Fannie Mae expect mortgage rates to keep falling, a “significant shift” in expectations that could free homeowners from the so-called “lock-in effect.” 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