Homeowners rushed to refinance last week, and lender data shows homebuyer demand for purchase loans is up 17 percent from a year ago with Federal Reserve rate cuts on deck
At Keller Williams Mega Agent Camp, Co-Founder Gary Keller said the housing market could be in a recession through late 2026, as the economy experiences burgeoning stagflation
Trump announces new tariffs on dozens of countries beginning Aug. 7, fires BLS commissioner after revised jobs report shows dramatic slowdown in payroll growth in May and June
Inflation moved away from the Fed's 2% target for the second month in a row, with the cost of goods and services rising 2.7% from a year ago, up from 2.3% in April: Bureau of Labor Statistics
The report beat analyst expectations by 37K jobs, curtailing hopes of a short-term rate cut in July. Economists say rates will likely stay elevated, keeping homebuyers sidelined
Purchase loan applications soared 10% last week to the highest level since April, even though rates have been stuck in the high 6s, the Mortgage Bankers Association reported Wednesday
The Consumer Price Index rose 2.4% year over year, slightly above April's 2.3% increase. Month over month, prices edged up just 0.1%, compared to 0.2% in April
An estimated 7.24M Americans were unemployed in May, as hiring by private employers slowed to slowest pace since October and the federal government continued to shrink its payroll
Consumer confidence sank to a 5-year low in April over concerns about tariffs, while trade deficit surged to an all-time high in March, and job postings shrank more than expected
Heightened fears of a trade war and recession have investors convinced the Fed will start cutting rates again in June, a sentiment that gives mortgage rates more room to come down
Homebuyers have responded to a pullback in mortgage rates from January highs, but tariffs on imported goods could keep inflation elevated and halt the downward trend in rates
Mortgage rates eased Friday as investors took stock of new data showing employers added 151,000 workers to their payrolls in February and the unemployment rate ticked up to 4.1%
Trump calls for lower interest rates after release of January CPI report. Powell says Fed is in no hurry to cut rates, and bond market investors who fund mortgages are taking him at his word
Windermere’s Principal Economist Jeff Tucker looks at mortgage rates and the factors that have pushed them up more than a point since September
Investors who fund most home loans are now convinced that the Federal Reserve won't cut rates again until June after employers add 256K jobs and unemployment falls to 4.1%