Speaking at an IMF research conference, Powell said the Fed is committed to raising rates as high as needed to bring inflation down, and “we are not confident that we have achieved such a stance.”
Category: economy
Economists now less certain 2024 will bring much mortgage rate relief
Fed’s “higher for longer” rate strategy could keep home sales from rebounding in 2024 or limit the strength of a recovery, according to two closely followed forecasts.
Housing groups urge Federal Reserve to stop hiking rates
MBA, NAR and NAHB say uncertainty over the Federal Reserve’s next moves is disrupting the housing sector and threatening to send the U.S. economy into a tailspin
Soaring rates baffle economists, frustrate housing leaders
Economists are scratching their heads and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than two decades.
Fed stays put but is prepared to hike rates one more time this year
Treasury yields, a barometer for mortgage rates, barely budged Wednesday as bond market investors look ahead to next year when the Fed is expected to start bringing short-term rates back down.
Bond market investors convinced Fed won’t hike rates next week
Demand for purchase loans picks up slightly, and mortgage rates continue to remain below 2023 peaks, as investors take latest inflation data in stride.
Consumer homebuying sentiment has plateaued at ‘pessimistic’
Most Americans polled by Fannie Mae last month said they would rather buy than rent, but a record-high 82 percent also said August was a bad time to buy.
Americans resigned to high home prices, mortgage rates: Fannie Mae
Consumer confidence in the housing market “appears to have plateaued at a relatively low level,” said Fannie Mae Chief Economist Doug Duncan in a new homeowner survey released on Friday.
Fed tightening likely to produce a ‘modest recession:’ Economists
Fannie Mae forecasters say the Federal Reserve’s decision on how high and long to keep rates up presents “a major risk over the next year,” with a question of a downturn more a matter of “when” than “if.”
Jumbo mortgage rates rise as lenders pull back
Rates for mortgages backed by Fannie and Freddie continue to ease despite Federal Reserve Chairman Jerome Powell’s tough talk on inflation, but liquidity issues put pressure on bigger loans.