Initial unemployment claims hit highest level since September, and Federal Reserve Chair Jerome Powell warns official data could be overestimating job creation by up to 60K jobs a month
Demand for purchase loans hit a new 2025 high last week after adjusting for the holiday, with mortgage rates near a low for the year and a Dec. 10 Fed rate cut on tap
Mortgage rates hit a new 2025 low of 6.12 percent on Oct. 28, but have been on the rise after Fed Chair Jerome Powell said there's no guarantee the Fed will cut rates for a third time in December
Investors seeking safety in bonds and mortgage-backed securities can bring rates down. Yields on 10-year Treasurys fell 4 basis points on first day of shutdown
Initial jobless claims climbed last week to the highest level since Oct. 23, 2021, but investors and economists are expecting 3 small rate cuts this year rather than a dramatic move on Sept. 17
Applications for purchase mortgages hit their highest level since July last week, and rates keep falling as weak jobs reports and more encouraging inflation data point to Sept. 17 Fed rate cut
Rebenchmarking that suggests the US added 911K fewer jobs than previously thought generates political heat but was widely expected by economists and investors
Purchase loan demand slipped last week, but rates are expected to keep falling with unemployed outnumbering job openings in July for the first time since the pandemic
With 7.24M Americans out of work in July and payroll growth slowing to an average of 35K jobs a month, the Fed is expected to pivot from fighting inflation to preserving jobs
Investors pushed bond yields and mortgage rates down Friday after Fed chair says policymakers are starting to see unemployment as a bigger risk to the US economy than inflation
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
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
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
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%
With mortgage rates back to where they were last summer, purchase applications are coming in at the slowest pace since February 2024, Mortgage Bankers Association lender survey finds