Investors who fund most home loans are no longer wondering whether the Fed will cut rates this month, but by how much. At least 3 quarter-percentage point rate cuts are now expected this year
Purchase loan demand slipped last week, but rates are expected to keep falling with unemployed outnumbering job openings in July for the first time since the pandemic
With 7.24M Americans out of work in July and payroll growth slowing to an average of 35K jobs a month, the Fed is expected to pivot from fighting inflation to preserving jobs
Bank failures and slowdown in wage growth have forecasters thinking the Federal Reserve will back off from aggressive rate hike campaign when it meets next week