Tag Archives: Recession

Demand for purchase mortgages climbs for 3rd week in a row

By | | Uncategorized
Comments Off on Demand for purchase mortgages climbs for 3rd week in a row

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 →

Jump in key inflation gauge may delay mortgage rate relief

By | | Uncategorized
Comments Off on Jump in key inflation gauge may delay mortgage rate relief

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 →

Buyers take rebound in mortgage rates in stride as lenders tighten

By | | Uncategorized
Comments Off on Buyers take rebound in mortgage rates in stride as lenders tighten

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 →

Mortgage rates are in free fall as economy continues to cool

By | | Uncategorized
Comments Off on Mortgage rates are in free fall as economy continues to cool

While Fed policymakers had forecast three rate cuts next year, futures markets now see an 85 percent chance of at least six rate cuts after a key inflation metric shows the economy is cooling rapidly. Continue reading →

Lower mortgage rates failed to spur homebuyers into action last week

By | | Uncategorized
Comments Off on Lower mortgage rates failed to spur homebuyers into action last week

Demand for purchase loans has picked up in five of the past seven weeks as mortgage rates continue a dramatic retreat from October highs on expectations of Fed rate cuts. Continue reading →

Fannie Mae, MBA economists still expect mild 2024 recession

By | | Uncategorized
Comments Off on Fannie Mae, MBA economists still expect mild 2024 recession

The good news for real estate pros is that closely watched forecasts agree home sales will bottom in Q4 2023, and mortgage rates are looking ready to come down significantly next year. Continue reading →

Mortgage rates inch back up after Powell warns Fed could hike again

By | | Uncategorized
Comments Off on Mortgage rates inch back up after Powell warns Fed could hike again

Speaking at an IMF research conference, Powell said the Fed is committed to raising rates as high as needed to bring inflation down, and “we are not confident that we have achieved such a stance.” Continue reading →

Mortgage applications hit 28-year low as bond selloff keeps rates up

By | | Uncategorized
Comments Off on Mortgage applications hit 28-year low as bond selloff keeps rates up

Mortgage rates continued their relentless rise this week to levels not seen in two decades, fueled by a bear market for bonds that fund government borrowing and most home loans. Continue reading →

Economists now less certain 2024 will bring much mortgage rate relief

By | | Uncategorized
Comments Off on Economists now less certain 2024 will bring much mortgage rate relief

Fed’s “higher for longer” rate strategy could keep home sales from rebounding in 2024 or limit the strength of a recovery, according to two closely followed forecasts. Continue reading →

Housing groups urge Federal Reserve to stop hiking rates

By | | Uncategorized
Comments Off on Housing groups urge Federal Reserve to stop hiking rates

MBA, NAR and NAHB say uncertainty over the Federal Reserve’s next moves is disrupting the housing sector and threatening to send the U.S. economy into a tailspin Continue reading →