Key Fed inflation metric expected to drop June 28 following unexpected decline in May wholesale prices and jump in weekly jobless claims to 242K workers, highest level since August 2023
Policymakers now envision making just one rate cut this year, but investors who fund most mortgages are still betting the central bank will change its tune if inflation continues to ease
Rates have returned to last week's levels, when applications for purchase loans leapt by 9% from the week before and refi applications surged by 28%, MBA lender survey shows
Bond market investors shrug off Federal Reserve Governor Christopher Waller's warning that he wants to see 'several more months of good inflation data' before cutting rates
Homebuyers have yet to respond in force to drop in rates, which have been in retreat from 2024 highs for 3 consecutive weeks following Fed easing and soft jobs and CPI reports
The trade group had signaled plans to raise dues in 2025, but during a board of directors meeting Thursday at the Realtors Legislative Meetings voted 894-20 to leave them as-is for another year
Requests for purchase loans dropped by 1% last week compared to the work before and were off 15% from a year ago, according to the latest Mortgage Bankers Association lender survey
Bond market investors who fund most mortgage loans are increasingly convinced the latest inflation numbers mean the Federal Reserve won't cut rates in June
Mortgage rates rise for the fourth day in a row, pushing back through 7% as more worrisome inflation data puts to rest any lingering hopes for a Federal Reserve rate cut this spring
Purchase loan applications surged for the second week in a row last week, but now rates are headed back up as worrisome inflation data casts doubts on timing of Fed rate cuts
Inflation rose 0.4% in February to an annual rate of 3.2%, with shelter and gas costs contributing substantially to the uptick, according to the the Bureau of Labor Statistics' Consumer Price Index
Applications for purchase loans have dropped 4 weeks in a row, plummeting by a seasonally adjusted 10% last week, according to a survey of lenders by the Mortgage Bankers Association
MBA lender survey shows applications from homebuyers are down 12% from a year ago, as mortgage rates continue to rebound from December lows on stubborn inflation data
Futures markets still hold out hope for a March rate cut, even as annual inflation increased to 3.4% in December, moving away from the Fed's 2% goal for the first time since September
The Consumer Price Index rose only 0.1% between October and November, 3.1% higher than a year earlier, suggesting interest rates will hold steady at this week's Federal Reserve meeting