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
With a soft landing seen as more likely, analysts say Fed can be more cautious about the pace of future rate cuts and mortgage rates aren't likely to fall below 6% anytime soon
Purchase loan applications are up 9% from a year ago, as inventories of new and existing homes increase and lower mortgage rates help with affordability, MBA lender survey suggests
With inflation continuing to inch closer to the Fed's 2% goal in August, bond market investors are getting more confident that the central bank will continue to cut rates aggressively in November
While many homeowners rushed to refinance, affordability is keeping a damper on sales. Now mortgage rates are climbing again, with investors having already priced in last week's Fed rate cut
In August, nearly half of all US homes had been on the market for 60 days or more, according to Redfin. Days on market has ticked up as high rates have slowed sales
Fed easing was already priced into mortgage rates, but there's room for more relief if investors who fund most home loans get less skittish about prepayment risk and quantitative tightening
Central bank policymakers drop short-term rates by 1/2 percentage point and signal more cuts ahead, but much of the impact may have already been priced in to mortgage rates
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
Fannie Mae's National Housing Survey shows there's greater optimism about the future, but fewer than 1 in 5 consumers thought August was a good time to buy a home
The East Asian island country has experienced decades of near-0% interest rates and an abundance of inventory, but the government has started to increase rates as wages have risen
Bond market investors who fund most mortgages are already certain the Fed will slash rates this month. The question has become how much will policymakers cut on Sept. 18, Nov. 7 and Dec. 18?
PCE price index shows inflation continued to cool in July, but at a gentle enough pace that Fed policymakers are now seen as likely to only bring rates down by a hair in September
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