Homebuyers respond to biggest drop in mortgage rates this year
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
by Matt Carter Nov 8
Record 85% of Americans said October was a bad time to buy
Monthly Fannie Mae survey shows homebuyer pessimism hitting a new high last month, but a broader index aimed at capturing overall housing market sentiment actually improved
by Matt Carter Nov 7
Big drop in mortgage rates as unemployment hints at recession
After breaching 8% in mid-October, 30-year fixed mortgage rates have plummeted to levels not seen since September as more investors expect Fed policymakers to lower rates in the spring
by Matt Carter Nov 3
Fed pause could revive demand for mortgages as rates reverse course
Demand for purchase mortgages hit the lowest level since 1995 last week, but relief could be in sight after Federal Reserve policymakers elected not to hike short-term rates on Wednesday
by Matt Carter Nov 2
Impact of 'lock-in effect' on listings may have been overstated
Fannie Mae researchers say rising mortgage rates aren't the only reason homeowners have been reluctant to sell, and that a decline in rates won't necessarily produce a flood of for-sale listings
by Matt Carter Oct 30
Mortgage demand slips again as rates continue relentless rise
Loan applications slip to lowest level since 1995 as mortgage rates climb for the 7th week in a row, according to a weekly survey of lenders by the Mortgage Bankers Association
by Matt Carter Oct 25
Mortgage rates ease after Powell weighs in on impacts of tightening
The Fed chair acknowledged that elevated term premiums — higher rates of return bond investors are demanding to compensate them for risk — could reduce the need for further rate hikes
by Matt Carter Oct 20
Mortgage applications hit 28-year low as bond selloff keeps rates up
Mortgage rates continued their relentless rise this week to levels not seen in 2 decades, fueled by a bear market for bonds that fund government borrowing and most home loans
by Matt Carter Oct 18
Economists now less certain 2024 will bring much mortgage rate relief
Fed's ‘higher for longer’ rate strategy could keep home sales from rebounding in 2024 or limit the strength of a recovery, according to two closely followed forecasts by MBA, Fannie Mae
by Matt Carter Oct 17
Housing groups including NAR float wonky idea to cut mortgage rates
NAR united with lending groups on Thursday to urge the Fed to maintain its current mortgage holdings in order to narrow a wide 'spread' between 10-year Treasurys and rising mortgage rates
by Matt Carter Oct 13
Housing's stranglehold on inflation poised to decline in months ahead
Inflation rose 0.4% in September, a near standstill from August, according to the latest Consumer Price Index Thursday. Economists believe 'shelter' will soon recede as the largest contributor
by Ben Verde Oct 12
Mortgage rates hit 20-year high as demand 'close to multi-decade' low
Homebuyer demand for mortgages inched up slightly last week, as rates climbed to the highest level in more than 2 decades, according to the Mortgage Bankers Association's weekly survey
by Matt Carter Oct 12
Why US consumers are souring — and what that means for housing
Maegan Sherlock, senior research analyst for John Burns, spoke with Intel about the results of the firm's latest household sentiment survey: 'I was hoping to see a new magic mortgage rate'
by Daniel Houston Oct 11
Drop in bond yields could also give mortgage rates room to ease
Dovish remarks from Fed policymakers help ease fears of more rate hikes, bringing yields on benchmark 10-year Treasury notes back down to where they were at the beginning of October
by Matt Carter Oct 11
Call to end rate hikes grows louder as housing groups confront Fed
MBA, NAR and NAHB warned in a joint letter Monday that uncertainty over the Federal Reserve's next moves is disrupting the housing sector and threatens to send the US economy into a tailspin
by Matt Carter Oct 9