Windermere’s Principal Economist Jeff Tucker looks at September’s ‘disappointing’ existing-home sales report and discusses some of the factors impacting the numbers
Another worry for bond market investors is quantitative tightening, the Fed's program to trim its massive holdings of government debt and mortgage-backed securities
Inflation, combined with September’s strong jobs report, suggests the Fed might be rethinking how quickly to cut the Federal Funds Rate, says Windermere’s Principal Economist Jeff Tucker
Demand for purchase mortgages fell by a seasonally adjusted 7% last week, and requests to refinance were down 26% as mortgage rates continued to climb, MBA survey finds
Reports send mixed signals on the economy, with CPI showing prices rose more sharply than expected in September and jobless claims surging to highest level in more than a year
Strong job market rekindles inflation worries, raising the prospect that Federal Reserve policymakers are increasingly likely to cut rates by only a hair in November -- if at all
The California Association of Realtors expects existing single-family home sales to reach more than 300K units by the end of 2025. Active inventory is due for a 10% boost as well
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
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 next week
The Fed doesn't have direct control over mortgage rates, but they've come down dramatically as investors are convinced policymakers will cut rates at their 3 remaining 2024 meetings
Falling mortgage rates have more homeowners interested in refinancing, but homebuyers are largely staying on the sidelines. Rates may now be poised for a bigger drop
Investors see a September rate cut as a given, but the latest inflation data suggests recession fears are overblown and that the Fed will start out with a modest, 25-basis point reduction
As inflation gets closer to Fed's 2% target, economists at Fannie Mae and the Mortgage Bankers Association predict mortgage rates will continue to drop into the low 6s by the end of next year
Overall inflation rose just 3% on an annual basis in June, according to Bureau of Labor Statistics. The 10-year Treasury yield, an indicator of mortgage rates, plummeted on the news Thursday
The Federal Reserve's preferred inflation gauge fell to 2.56% in May, getting closer to the Fed's 2% target for the 2nd month in a row. Core inflation reading is lowest since March 2021