Latest Updates Around The World
“Mortgage rates rose last week, with the 30-year fixed rate rising to 6.4%, the highest level since early October,” said Joel Kan, MBA vice president and deputy chief economist. “Despite these slightly higher rates, purchase applications increased during the week and remained at a stronger pace than a year ago, with increases in conventional and […]
The answer, according to Kushi, lies in six forces shaping the outlook: affordability, demographic demand, regional divergence, local tension, rising inventory and the continued benefit to new housing. Affordability and demographics Mortgage rates are expected to remain in the low 6% range next year, according to a report published this week by First American Data […]
“Mortgage rates moves were mixed last week as Treasury yields rose modestly after last week’s FOMC meeting. The 30-year fixed rate was largely unchanged at 6.31% and remained near the lowest level in more than a year,” said Joel Kan, MBA vice president and deputy chief economist. “Despite a decline last week, refinance applications are […]
The 25 basis point cut was confirmed by a vote of 10-2. The dissenting voices came from Fed Governor Stephen Miran, who demanded a 50 basis point cut, and Kansas City Fed President Jeffrey Schmid, who voted for unchanged policy rates. The Federal Open Market Committee (FOMC) also confirmed it would end its quantitative tightening […]
In addition to home sales remaining flat month over month, pending home sales fell 0.9% year over year in September. Despite these results, about 20% of NAR members surveyed expect to see an increase in buyer or seller traffic over the next three months, according to the Realtors’ Confidence Index. While some real estate agents […]
Mortgage interest rates have fallen again today. According to Zillow, the average 30-year interest rate has fallen by five basis points 6.10%. The fifteen-year loan fell by six basis points 5.42%. Here are the current mortgage rates, according to the latest Zillow data: 30 years fixed: 6.10% 20 years fixed: 5.56% 15 years fixed: 5.42% […]
“Restrictions lead to difficult decisions about how to balance competing objectives, and the Fed is charged with these difficult decisions when it comes to inflation and employment,” he said. “To offset this limitation, I believe the Fed must maintain its credibility on inflation.” He said inflation expectations remain stable, but warned this could change quickly […]
