Requests for purchase loans are still down 21% from a year ago last week, even as mortgage rates retreat from 2023 highs on encouraging inflation news
Lack of inventory driven by mortgage lock-in effect may persist if Federal Reserve maintains 'higher-for-longer' rate strategy to combat inflation: Fannie Mae economists
Despite having cooled for more than a year, the median asking rent in the US remained just $24 below its all-time high as of June 2023, Redfin reported
While investors expect 1 more Fed rate hike this month, mortgage rates are already retreating on expectations that the Federal Reserve could reverse course next year
Housing costs were again the largest contributor to inflation, accounting for more than 70% of the annual increase of the Consumer Price Index, according to new Bureau of Labor Statistics data
Consumer confidence in the housing market 'appears to have plateaued at a relatively low level,' said Fannie Mae Chief Economist Doug Duncan in a new homeowner survey released on Friday
Strong jobs numbers and GDP growth have bond market investors convinced it's all but certain the Federal Reserve will resume rate hikes this month
Surprising employment and GDP numbers have investors buying stocks and selling bonds over worries that Fed policymakers will continue hiking rates to combat inflation
Jumbo loan rates higher than conforming mortgages for 3rd week in a row as spread widens to 16 basis points, latest MBA lender survey reveals
Federal Reserve's decision on how high and long to keep rates up 'a major risk over the next year' with question of a downturn more a matter of 'when' than 'if': Fannie Mae
While Fed policymakers currently see need for 2 more rate hikes this year, some economists think economy will continue to cool without further tightening
The impact of high housing costs is expected to fall out of inflation, giving cover for the Federal Reserve to stop raising interest rates for now, economists said. But there are still warning signs
With home prices propped up by scarce inventory and mortgage rates showing few signs of easing, only 19% of Americans surveyed by Fannie Mae thought May was a good time to buy
Some Fed policymakers say even if they skip hiking rates next week to assess the latest inflation data, that doesn't mean they're ready to pause altogether
Friday's strong jobs report renews worries that the Federal Reserve is not done hiking rates to combat inflation as policymakers face June 14 decision to 'hike, skip or pause'