After the Federal Reserve approved the second rate cut of the year, mortgage rates moved in the opposite direction as investors who fund most home loans worry about inflation
Homeowners rushed to refinance last week, and lender data shows homebuyer demand for purchase loans is up 17 percent from a year ago with Federal Reserve rate cuts on deck
The report beat analyst expectations by 37K jobs, curtailing hopes of a short-term rate cut in July. Economists say rates will likely stay elevated, keeping homebuyers sidelined
Fed Chair Jerome Powell says policymakers are not ready to start selling off Treasurys and mortgage debt to accelerate trimming of $9T balance sheet