Mortgage rates inch up as an expected decline in key inflation gauge does little to change expectations for Fed rate cuts among investors who fund most home loans
Demand for mortgages is at the lowest level since July, although MBA survey shows purchase loan requests are up slightly from a year ago when rates were headed for post-pandemic highs
Demand for purchase mortgages fell by a seasonally adjusted 7% last week, and requests to refinance were down 26% as mortgage rates continued to climb, MBA survey finds
Strong job market rekindles inflation worries, raising the prospect that Federal Reserve policymakers are increasingly likely to cut rates by only a hair in November -- if at all
Central bank policymakers drop short-term rates by 1/2 percentage point and signal more cuts ahead, but much of the impact may have already been priced in to mortgage rates