Mortgage rates continued to rise this week, placing more strain on a 2026 spring housing market that was expected to be robust but is now fighting an uphill battle against a slowing economy. Mortgage News Daily reported Monday that 30-year fixed rates averaged 6.55%. That was up 6 basis points from a week earlier but […]
Inflation fears keep mortgage rates in the mid-6% range Read More »
There seem to be very few things that Democrats and Republicans on Capitol Hill can agree on these days, but one of them is that housing has become increasingly unaffordable for the average American. And with good reason: housing affordability is the worst it’s been in over 40 years – since the 1980s when mortgage
How the ROAD to Housing Act could improve home affordability Read More »
Key Insight: Federal Reserve Chair Jerome Powell said there is uncertainty about how the Iran war will affect the economy, but that the central bank’s monetary policy is well positioned to “wait and see” how conditions unfold. Expert Quote: “You have to carefully monitor inflation expectations, because a series of these supply shocks can lead
Powell says Fed cautious as Iran war drives inflation risks Read More »
Key Insight: Federal Reserve Gov. Michael Barr said inflation pressures on goods and non-housing services remain elevated and that the Middle East conflict could add to the burden. Expert quote: “I would like to see evidence that goods and services price inflation is sustainably retreating before considering reducing the policy rate further, provided labor market
Fed’s Barr: No interest rate cuts until inflation is tamed Read More »
Key insight: Fed Gov. Stephen Miran said he is looking through the oil price shock and keeping his policy outlook unchanged, anticipating four 25 basis point cuts in 2026. Expert quote: “Looking 12 to 18 months out, there’s still not enough clarity to think that monetary policy itself should adjust in response to what’s happened.”
Fed’s Miran says oil shock unlikely to alter rate outlook yet Read More »
The Iran conflict finally pushed the 10-year yield above a key level on Friday morning and if this move sticks and the conflict escalates further, mortgage rates are at risk of heading much higher during the spring season, something that wasn’t the case even a few weeks ago. Even some doves at the Federal Reserve
Mortgage rates are breaking higher — and things can get worse with Iran conflict Read More »
Federal bank regulators on Thursday introduced proposals to overhaul capital rules, affecting how depositories treat mortgage assets. The package includes three measures: revisions to the Basel III framework for large, internationally active banks; changes to the Global Systemically Important Bank (GSIB) surcharge; and updates to the U.S. standardized approach. A broader Basel III proposal introduced in 2023
Bank regulators unveil capital reforms to boost mortgage lending Read More »
Weekly jobless claims were reported to be 205,000 vs the expected 215,000, the Philly Fed Manufacturing Index 18.1 vs the expected 8.3, so both were considerably market negative. Processing Content Treasuries had already opened with bearish gaps, the largest by the 5-year yield which began the day at its highest yield since 8/1, but even
Treasury yields hit months-long highs after FOMC Read More »
In a widely expected move, the Federal Reserve held its benchmark interest rate steady Wednesday at a target range of 3.5% to 3.75%, the same level it set in January. “Available indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, and the unemployment rate has been little
Fed holds rates, officials signal wait and see on inflation risks Read More »
Key Insight: Federal Reserve Chair Jerome Powell acknowledged Wednesday that he may remain at the helm of the central bank past the end of his term because of delays in confirming his successor, and said he does not plan to leave while an investigation into him is ongoing. Expert quote: “I have no intention of
Fed Chair Powell to stay on until DOJ concludes probe Read More »