Federal Reserve Chair Jerome Powell.Bloomberg News Some Federal Reserve officials are starting to beat the drum for an interest rate cut, but not Chair Jerome Powell. During an onstage panel event in Portugal, Powell said he is not putting a rate cut on the table for this month’s Federal Open Market Committee. But he also […]
Powell unbowed by pressure to cut rates in July Read More »
Investor reaction to events of the past eight days has contributed to mortgage rates moving below 6.8% for the first time since the start of May, Freddie Mac said. The 30-year fixed-rate mortgage was at 6.77% as of June 26, compared with 6.81% eight days prior and 6.86% for the same week in 2024, the
Mortgage rates slide after FOMC meeting, Iran attack Read More »
Fear of a recession is back in the headlines. And if you’re thinking about buying or selling sometime soon, that may leave you wondering if you should reconsider the timing of your move. A recent survey by John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM) shows 68% of people are delaying plans
Think It’s Better To Wait for a Recession Before You Move? Think Again. Read More »
In the aftermath of the Federal Open Market Committee’s June meeting, certain interest rate spreads should narrow, but the overall impact for mortgages is mixed, a Keefe, Bruyette & Woods report said. Part of that depends on which segment of the industry the company operates in. Mortgage rates remaining elevated, with the 30-year fixed only
Mortgage servicers benefit most from Fed’s inaction: KBW Read More »
Home prices continued to rise in May, reaching a new high even as fears of tariffs, trade wars, and economic uncertainty swirl through the broader economy. The median sale price for a home reached an all-time record of $396,500 during the four weeks ending June 15, according to Redfin. This was up 1% from the
High home prices hide broader slowdown as demand drops Read More »
U.S. stocks rose early Friday as investors returned from the Juneteenth holiday break to evaluate recent comments from a top Federal Reserve official as well as the latest developments in the conflict between Israel and Iran. The S&P 500 Index gained 0.6% at 9:43 a.m. in New York, with the benchmark teetering between a weekly
Stocks gain as Fed’s Waller offers hope on July rate cut Read More »
New U.S. residential construction declined in May to the slowest pace since the onset of the pandemic as an elevated inventory of homes for sale and high mortgage rates sapped the motivation to build. Housing starts decreased 9.8% to an annualized rate of 1.26 million homes last month, according to government figures released Wednesday. The
New home construction falls to five-year low Read More »
Mortgage rate movements stayed muted as investors await the culmination of June’s Federal Open Market Committee meeting later on Wednesday. Rates declined for the third consecutive week, but remained in that tight 6.8% range, the Freddie Mac Primary Mortgage Market survey reported. The survey was released a day early because of the Juneteenth holiday. What
Mortgage rates move lower ahead of Fed decision Read More »
Not only does the full panel of economists surveyed by Wolters Kluwer feel the Federal Open Market Committee will not cut short-term rates at its meeting today and tomorrow, less than 10% expect it to act in July. The Blue Chip Economic Indicators report also soundly discounts Pres. Trump’s call for the Fed Funds Rate
No Fed rate cut until September at earliest, economists say Read More »
Mortgage rates continued to operate in the same low 6.8% range they have been in for most of the past two months since a 21 basis point spike in mid-April, according to Freddie Mac. The 30-year fixed rate mortgage declined 1 basis point as of June 12 from one week prior, to 6.84%, the Freddie
Mortgage rates move lower for second week Read More »