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 »
Key insight: Fed Gov. Lisa Cook, Gov. Michael Barr and Vice Chair Philip Jefferson said in separate appearances Thursday that uncertainty over tariffs and geopolitical tensions is shifting the balance of risks toward combating a rise in inflation. Expert quote: “The ongoing trade policy uncertainty and geopolitical tensions … pose upside risk to my inflation
Fed Govs. express concern about Iran war-driven inflation 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 »
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 »
U.S. consumer prices increased moderately from January to February, with annualized inflation holding steady, according to data released Wednesday by the U.S. Bureau of Labor Statistics. The Consumer Price Index rose 2.4% over the 12 months ending in February, unchanged from January. On a seasonally adjusted basis, the index increased 0.3% during the month. Core
February’s CPI report reveals steady annual inflation of 2.4% Read More »
In a sign of a still-softening labor market, U.S. employers eliminated 92,000 nonfarm payroll jobs in February, according to data released Friday by the U.S. Bureau of Labor Statistics (BLS). Economists say the report is unlikely to change the Federal Reserve’s stance on interest rates. Meanwhile, the jobs numbers for December 2025 were downwardly revised
Job market softens as US payrolls fall by 92K in February Read More »
Key insight: Treasury Secretary Scott Bessent said the Supreme Court limited the administration’s tariff authority under the International Emergency Economic Powers Act, but that other laws could give the administration the same powers. Supporting data: The Penn-Wharton Budget Model has estimated that the court’s rejection of the IEEPA tariffs could result in as much as
Bessent: ‘No one should expect’ tariff revenue to decline Read More »
Key Insight: Inflation showed signs of cooling in January, with the annual inflation rate dropping to 2.4%. Supporting data: Prices excluding food and fuel rose 0.3% in January, while food increased 0.2% and energy prices ticked down by 1.5%, the report found. Forward look: The January inflation reading remains slightly above the Fed’s longstanding 2%
Inflation cools to 2.4%, bolstering Fed’s cautious rate outlook Read More »
Key takeaway: Treasury Secretary Scott Bessent said in an appearance Wednesday that the Federal Reserve should require regional Fed presidents to reside in their districts for three years going forward. Supporting data: All 12 regional Fed presidents’ terms expire every five years and are reappointed as a bloc. The next vote on reappointing regional bank
Bessent floats residency rule for regional Fed presidents Read More »
The odds that the Federal Reserve will cut benchmark interest rates again in December are still high — but not as high as they were before last week’s cut. As of Monday, according to the CME Group’s FedWatch tool, 70% of interest rate traders are anticipating another 25-basis-point pullback after the Fed’s final meeting of
Another Fed rate cut to finish 2025? Not so fast Read More »