Mortgage rates are chasing Treasury yields lower — for now
With a key inflation report due Friday, rates have retreated to levels not seen in 2 weeks after Fed Chair Jerome Powell signals central bank could ease up on 'quantitative tightening'
by Matt Carter Mar 27
Fed preparing to slow the pace of 'quantitative tightening'
In addition to anticipating 3 rate cuts this year, Federal Reserve policymakers are considering whether to taper the pace at which they unwind the central bank's $7T balance sheet
by Matt Carter Mar 20
Rising mortgage rates threaten to curtail spring homebuying
After 2 consecutive weeks of rising demand, applications for purchase mortgages dropped last week by a seasonally adjusted 1% from the week before, and by 14% from a year ago: MBA survey
by Matt Carter Mar 20
Fannie Mae no longer expects mortgage rates to drop below 6%
Recent surge in mortgage rates could take some air out of a projected rebound in 2024 home sales, with deals driven mostly by households who can no longer put off their moves
by Matt Carter Mar 19
Surging mortgage rates gain momentum on new inflation data
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
by Matt Carter Mar 14
Homebuyers made hay while mortgage rates were down
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
by Matt Carter Mar 13
Inflation rises to 3.2% in February, raising doubts about soft landing
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
by Ben Verde Mar 12
Homebuyers sit up and take notice as mortgage rates fall
Purchase loan applications jump by a seasonally adjusted 11% after 5 consecutive weeks of declines as mortgage rates continue to retreat from 2024 highs
by Matt Carter Mar 6
Mortgage rates ease for 2nd consecutive day on inflation data
'Quantitative tightening' — the Federal Reserve's moves to trim $35B in mortgages from its balance sheet each month — could keep mortgage rates from falling dramatically this year
by Matt Carter Mar 1
Latest inflation numbers give mortgage rates some room to fall
A key Fed inflation metric, the PCE price index, continues to drop toward the Fed's 2% inflation target, falling from 2.6% annual growth in December to 2.4% in January
by Matt Carter Feb 29
Homebuyer mortgage demand down for 5th consecutive week
With mortgage rates hovering above 7%, requests for purchase loans were down by a seasonally adjusted 5% week over week and 2% lower than a year ago, MBA lender survey finds
by Matt Carter Feb 28
Gary Keller says 'right now, real estate is in a recession'
Keller Williams co-founder Gary Keller said the Federal Reserve's inflation policy will continue to haunt the real estate industry in 2024, but there's still plenty of opportunity for agents to succeed
by Marian McPherson Feb 27
Strong economy could lift 2024 home sales: Fannie Mae forecast
The additional boost to 2024 home sales might come at the expense of slightly slower growth next year due to elevated mortgage rates, economists at the mortgage giant said Friday
by Matt Carter Feb 23
Rising mortgage rates taking a big bite out of homebuyer demand
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
by Matt Carter Feb 21
Construction costs poised to rise up to 6% in 2024
Building costs will rise between 3% and 6% throughout 2024, depending on the market, according to data released Tuesday by cost management firm Currie and Brown
by Ben Verde Feb 20