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.
Category: mortgage rates
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.
Rocket back in the black after boosting purchase market share
The Detroit-based mortgage giant returned to profitability during the spring homebuying season by slashing costs and boosting its market share in the face of severe inventory shortages.
Economy’s strength could keep a damper on existing-home sales
Lack of inventory driven by mortgage lock-in effect may persist if the Federal Reserve maintains a ‘higher-for-longer’ rate strategy to combat inflation, Fannie Mae economists said.
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.
Good news about economy could send mortgage rates back up
Surprising GDP and jobs numbers have investors buying stocks and selling bonds over worries that Fed policymakers will continue hiking rates to combat inflation.
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.
Regulators fire warning shot over bow of mortgage comparison sites
The Consumer Financial Protection Bureau warned on Tuesday that operators of mortgage comparison-shopping platforms may be violating RESPA if they manipulate search results to coerce kickbacks.
Home prices are looking softer to Fannie Mae economists
With a recession looking increasingly likely, Fannie Mae economists expect national home prices to fall 6.7 percent over the next two years.