Fed’s “higher for longer” rate strategy drives yields on long-term Treasurys higher, with mortgage rates following to highest levels in over 20 years, MBA survey shows.
Category: Markets & Economy
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.
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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.
Divvy stays mum as employees report a new round of layoffs
At least seven former employees of the rent-to-own company posted on LinkedIn on Thursday that they had been laid off from the rent-to-own company.
Interest rates stay anchored after Fed chair’s hawkish speech
After an initial swoon, bond markets take Federal Reserve Chairman Jerome Powell’s tough talk on inflation in stride, but the housing sector remains vulnerable to rate hikes.
Pending home sales climb to 2023 high following months of declines
Pending home sales rose 0.7 percent from June to July, reversing seven months of declines. However, rising rates and home prices are poised to stifle sales growth into the fall, Redfin said.
Even amid high rates, buyers have more options than they realize
Loan officers and assistance programs are just 2 ways to close the knowledge gap, Zillow Senior Economist Orphe Divounguy and Rocket President Tim Birkmeier said Wednesday at Connect.
What down market? Payrolls are just fine in the brokerage world
Home transactions may be down, but you wouldn’t know it from most brokerage payrolls. Real estate hiring churned along in July, according to new data from the U.S. Bureau of Labor Statistics.