Key insight: Another key policymaker has made the case that inflation has emerged as the central bank’s primary concern as the war in Iran continues to drive up prices. Expert quote: “After five years of above-target inflation, I am particularly attuned to the risk that elevated inflation will become embedded in price- and wage-setting behavior. […]
Fed’s Cook ‘prepared to raise rates’ if inflation persists Read More »
Let’s be real with each other for a second about affordability. Because you deserve someone who will be honest and transparent about what’s going on, especially if you’ve got a move on your mind. Here’s the full picture of what’s happening and why. The good – and the bad. So, you know what it truly
The Truth About Affordability Today Read More »
Mortgage rates enter the Memorial Day weekend at levels not seen since last Labor Day with the bond market in a tizzy this past week. Processing Content News over inflation and the Iran conflict influenced investors and as a result, the 10-year Treasury reached its highest point in 52 weeks. For the week of May
Mortgage rates surge to 9-month high amid market turmoil Read More »
Without the presidential order mandating the government-sponsored enterprises purchase securitized loans, it is possible mortgage rates could even be higher. Processing Content The economists at Bank of America Securities are still expecting the next move out of the Federal Reserve to be a reduction in short-term rates, but they have delayed the timing. This is
Without GSEs’ bond buying, mortgage rates may be even higher Read More »
Current interest rate levels are unlikely to budge until 2028 at the earliest, remaining within the same 10 basis point range for the next 18 months, according to a newly revised outlook from Fannie Mae. Processing Content The government-sponsored enterprise projects the 30-year fixed rate to average 6.3% in each of this year’s remaining quarters
Fannie Mae raises mortgage rate forecast through 2027 Read More »
Key insight: The U.S. added 115,000 jobs in April while unemployment held steady at 4.3%. Supporting data: Newly unemployed workers rose by 358,000 in April to 2.5 million. Forward look: The report could complicate an already divided Federal Reserve as it considers whether to combat inflation spurred by geopolitical risks or foster employment by cutting
Economy added 115,000 jobs in April despite mixed signals Read More »
The 30-year fixed rate mortgage gained another 7 basis points this week, Freddie Mac reported, but the point-to-point movements do not tell the whole story. Processing Content Even as the 30-year FRM averaged 6.37% for the period ended May 7, the Freddie Mac Primary Mortgage Market Survey reported, observers noted rates trended lower the last
Mortgage rates rise, but there are signs of moderation ahead Read More »
Key takeaway: Federal Reserve Gov. Michael Barr said rising energy costs — already rising in part due to increased electricity demand from data centers — could be made worse by the Iran war, but how much worse depends on how long the Strait of Hormuz remains closed. Expert quote: “The most immediate effect is a
Fed’s Barr says gas prices could ‘bleed’ into inflation Read More »
Mortgage rates ended their three-week slide, with the 30-year fixed moving 7 basis points higher as a primary benchmark for pricing loans remained elevated. Processing Content For the first time in a month, the 10-year Treasury yield moved over 4.4% on April 29. Other than that late March rise, the last time it was this
Mortgage rates rise on Iran standoff, FOMC meeting news Read More »
Key insight: Cyber risk and the potential for an economic downturn are the leading concerns amongst bankers surveyed by fintech IntraFi. Supporting data: Cyber risk topped bankers’ concerns, with 29% of respondents citing cyber as a top concern, followed by 22% for an economic downturn and 17% for risks related to continuity at the Federal
Bankers most worried about cybersecurity, economy: Survey Read More »