Mortgage rates hit new 2023 high on debt ceiling, inflation worries
For bond market investors who provide the funding for most U.S. mortgages, the debt ceiling crisis won't be over until Congress actually votes to approve the deal negotiated over the weekend
by Matt Carter May 30
Homebuyers flinch as mortgage rates ascend toward 2023 highs
Purchase loan applications fell by a seasonally adjusted 4% last week as mortgage rates surged on debt ceiling and inflation worries, according to a survey by the Mortgage Bankers Association
by Matt Carter May 24
Rent peaked where it matters most. Here's what happens next
Federal inflation data showed rent inflation dropped in April, about a year after rent growth rapidly slowed. Three economists explain why it took so long for that to happen and what it all means
by Taylor Anderson May 23
Housing is outperforming, but recession may still be in the cards
Fannie Mae economists say 'extraordinarily tight' inventories of existing homes driven by mortgage lock-in effect has shifted demand toward new homes
by Matt Carter May 19
Mortgage demand slips with homebuyers wary of rate volatility
Rise in mortgage rates defies expectations as unusually wide 'spread' between 10-year Treasury yields and mortgages reflects investor fears of another refi wave
by Matt Carter May 17
Consumers finally get it: Mortgage rates are probably going down
More optimistic outlook of where mortgage rates are headed over the next 12 months drives the largest increase in Fannie Mae's Home Purchase Sentiment Index in more than 2 years
by Matt Carter May 12
Inflation rises during April but continues to cool
The all items index increased 4.9% for the 12 months ending April, the smallest 12-month increase since the period ending April 2021, according to the Consumer Price Index Summary
by Ben Verde May 10
Mortgage applications surged last week but rates are climbing again
Homebuyer applications for purchase mortgages rose 5% last week, but a strong jobs report and ongoing bank instability are pushing mortgage rates back up
by Matt Carter May 10
Fed signals it may be done raising rates, but Powell won't talk pivot
Bank failures and potential debt ceiling showdown are wildcards for Federal Reserve policymakers weighing their next move as threat of recession looms
by Matt Carter May 3
Homebuyer demand for purchase mortgages up despite higher rates
Mortgage rates are expected to ease as markets anticipate Federal Reserve policymakers will raise rates just 1 more time this year and then reverse course
by Matt Carter Apr 26
Home sales will be 'subdued' for rest of 2023, Fannie Mae projects
The housing sector's resilience to higher prices and mortgage rates has bolstered prices, but a lack of for-sale inventory is expected to limit sales, according to Fannie's latest monthly forecast
by Matt Carter Apr 25
Listing shortages kept prices from falling in Q1: Fannie Mae
Mortgage giant's quarterly Home Price Index shows national home prices were up 1% during the first quarter of 2023 compared to the final 3 months of 2022
by Matt Carter Apr 18
Homebuyer mortgage demand perks up as rates retreat
Homebuyer demand for purchase loans up 8% last week even after adjusting for the expected seasonal boost from the spring homebuying season
by Matt Carter Apr 12
Housing costs remain stubbornly high despite relief on food, energy
The US Consumer Price Index cooled to 5% in March compared to a year ago, but remained elevated overall despite efforts to curb inflation, according to the Bureau of Labor Statistics
by Ben Verde Apr 12
Poll shows most Americans still think it's a bad time to buy
Fannie Mae survey shows sentiment ticked up slightly in March with consumers becoming more confident about homeselling conditions and less worried about losing their jobs
by Matt Carter Apr 10