Lending industry leaders surveyed by Fannie Mae see the lack of housing supply as the biggest risk factor in 2024, but most expect refinancing to pick up next year if rates continue to fall.
Category: federal reserve
Mortgage rates retreating from 7% on ‘massive’ revision to jobs report
After spiking after the June 27 presidential debate, mortgage rates are trending down again on mounting expectations that the Federal Reserve will start cutting rates in September.
Mortgage rates surge as Trump’s odds improve after debate
Investors weigh the potential for higher tariffs, tighter restrictions on immigration, and an extension of 2017 tax cuts to fuel inflation under a second Trump administration.
BofA analysts cast doubts on prospects for 2025 sales rebound
“The U.S. housing market is stuck, and we are not convinced it will become unstuck anytime soon,” economists at Bank of America Global Research say of ongoing affordability issues.
Homebuyers jump at lower mortgage rates, but will they last?
Purchase loan applications have surged for two weeks in a row, but rates for conforming mortgages are inching back up toward 7 percent this week as investors weigh the odds of Fed rate cuts.
Rates ease as inflation gauge moves in the right direction
Mortgage rates have some room to come back down in June after PCE price index shows annual inflation easing to 2.65 percent in April, and Q1 2024 GDP growth revised downward to 1.3 percent.
Rates ease as Fed says it will dial back balance sheet tightening
Federal Reserve policymakers say they’ll slow the pace of “quantitative tightening” to $40 billion a month, less than half the pace envisioned 2 years ago.
Homebuyers falter as mortgage rates hit new 2024 highs
Requests for purchase loans were down 1 percent week over week and 15 percent from a year ago, according to the latest Mortgage Bankers Association survey.
Would-be homebuyers balk as mortgage rates head back up
Purchase loan applications have been flat for two consecutive weeks, and now mortgage rates are popping again as more worrisome inflation data rolls in.
Fed preparing to slow the pace of ‘quantitative tightening’
In addition to anticipating three rate cuts this year, Federal Reserve policymakers are considering whether to taper the pace at which they unwind the central bank’s $7 trillion balance sheet.