Existing-home sales fell 4.2 percent year over year to a seasonally adjusted rate of 3.86 million in August as buyers awaited the Fed’s decision to cut rates, according to National Association of Realtors data Continue reading
Central bank policymakers drop short-term rates by 1/2 percentage point and signal more cuts ahead, but much of the impact may already be priced in to mortgage rates. Continue reading
Lenders have gotten into the habit of helping some homebuyers avoid jumbo loans by raising their limits before an official announcement by Fannie Mae and Freddie Mac’s federal regulator. Continue reading
Investors who fund most mortgages have already priced in several rate cuts, so further declines could depend on what next week’s “dot plot” says about expectations for the pace of future cuts. Continue reading
U.S. homeowners are showing less interest in taking on second-home mortgages, as elevated prices and economic jitters make these properties less appealing, Redfin reported on Thursday.
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A surprisingly large increase in core CPI, which excludes volatile food and energy prices, means Fed policymakers are likely to start out with a modest 25 basis-point rate cut when they meet next week. Continue reading
Fannie Mae’s National Housing Survey shows there’s greater optimism about the future, but fewer than 1 in 5 consumers thought August was a good time to buy a home. Continue reading
August payroll report includes “huge downward revisions” to previous estimates of June and July job growth, renewing recession worries and prospects for aggressive Fed rate cuts. Continue reading
Bernice Ross talks with Patrick Stone, chairman and founder of Williston Financial, about interest rates, new construction and the 2024 election. Continue reading
The East Asian island country has experienced decades of near-0 percent interest rates and an abundance of inventory, but the government has started to increase rates as wages have seen a boost. Continue reading