Redfin's Homebuyer Demand Index increased 15 points since June 15, reversing 10 straight weeks of decreasing demand that started in mid-April
Fed Chairman Jerome Powell hinted Wednesday that the US central bank is looking to dial back the pace of interest rate hikes as soon as the impact of increases shows up in inflation data
Opinion
Although economists expected rates to rise this year, nobody anticipated how fast they would rise. So what went wrong?
Decline in purchase applications aligns with slower homebuilding activity due to reduced buyer traffic and ongoing building material shortages, according to the Mortgage Bankers Association
Rising interest rates and a shrinking branch network are cutting into Wells Fargo's mortgage business, and bank executives say they're fine with that
Housing costs were one of the biggest drivers of inflation in June, pushing higher at a pace unseen since 1990, according to a report Wednesday from the Bureau of Labor Statistics
Purchase loan applications continue to be weaker 'due to the combination of much higher mortgage rates and the worsening economic outlook,' said MBA forecaster Joel Kan
Fannie Mae finds 81% of Americans think the economy is on the wrong track, but the share of consumers who think it's a good time to buy ticked up in June
Although fears of a recession are bringing mortgage rates down, would-be homebuyers aren't rushing to apply for loans, according to a weekly survey of lenders
Purchase mortgage applications are still down 10% from a year ago, with mortgage rates nearly doubling in the last 12 months, according to a survey by the Mortgage Bankers Association
Opinion
Interest rates and out-of-whack supply and demand have Powell calling for a market 'reset.' Here's what that means for the real estate industry
Higher mortgage rates are now 'housing market's primary constraint,' economists at Fannie Mae said in a new forecast predicting home sales will fall 13.5% this year
Jerome Powell on Wednesday acknowledged the tough situation buyers now find themselves in, adding that 'We need to get back to a place where supply and demand are back together'
After bond market sell-off Friday and Monday, investors take Fed's 75 basis-point rate hike in stride. 'The Fed managed to hint at today's move,' said the COO of 1 capital markets advisory firm
Dramatic inflation reading fuels speculation that Federal Reserve policymakers will implement drastic 75-basis point interest rate hike Wednesday