Requests for purchase loans were up 4% last week compared to the week before, but down 20% from the same time a year ago, Mortgage Bankers Association's weekly survey of lenders finds
Tuesday's big drop in rates followed an encouraging inflation report, with bond market investors now convinced the Federal Reserve is done hiking rates and may reverse course in the spring
Fannie Mae economists predict 'mild recession' in H1 2024, while continued strength in the economy could keep mortgage rates from coming down as much as previously expected
Mortgage rates are climbing back toward 2023 highs as more inflation data comes in hot, spurring fears of another Federal Reserve rate hike in November and 'higher for longer' policy