With listings still in short supply, homebuyers are 'dealing with an affordability shock' and new homes will play an outsize role in housing markets, Zonda Chief Economist Ali Wolf said at ICNY
Purchase mortgage applications surge by 8% as homebuyers seeking to take advantage of recent decline in rates get an early jump on the spring homebuying season, MBA lender survey shows
Fannie Mae economists no longer expect a recession in 2024 and are considerably more optimistic that mortgage rates have additional room to come down below 6%
The trend could bode well for the spring homebuying season, the Mortgage Bankers Association said Wednesday, but Federal Reserve policymakers may take their time before cutting rates
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, MBA lender surveys show
Demand for purchase loans has picked up in 5 of the last 7 weeks as mortgage rates continue a dramatic retreat from October highs on expectations of Fed rate cuts
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
Federal Reserve policymakers anticipate 3 rate cuts by the end of next year, but investors and some economists think the central bank may cut faster and harder, with relief by spring
Fannie Mae economist warns that, while mortgage rates have retreated, the primary drivers of housing pessimism are persistent affordability challenges and worries about household finances
Mortgage rates keep falling after Powell tries to deflate expectations for the spring rate, as 3 new reports released this week suggest the economy is, in fact, losing steam
Two closely watched forecasts agree that mortgage rates have probably peaked, but the MBA and Fannie Mae diverge sharply on how quickly they'll come down over the next 2 years
Tuesday's big drop in rates followed an encouraging inflation report, with bond market investors now convinced the Federal Reserve is done hiking rates and may reverse course in the spring
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'
Purchase mortgage applications trended up last week for the first time in a month as mortgage rates retreated from 2023 highs, according to the MBA's weekly survey of lenders
With headwinds in sight for 2024, loanDepot plans to slash $120M in annual expenses following 3 consecutive quarters of cuts, CEO Frank Martell said during a Q3 earnings call Tuesday afternoon