Federal Reserve Governor Christopher Waller argued at a Yale University CEO Summit today that the central bank should press forward with rate cuts even as job growth stalls near zero. He also offered a sobering observation about the housing market: lower rates may not matter much if potential homebuyers are too worried about losing their…
As we head into 2026, mortgage rates are expected to remain in line with today’s rates, which, while not the sharp decline some buyers may have been hoping for, are enough to see modest home price growth in the new year, economists predict. The latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday,…
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Home purchase application activity continues to fluctuate with an increase this past week but mortgage watchers say the bigger picture shows applications overall running ahead of a year ago as market conditions continue to mark gradual improvement. According to the latest Mortgage Bankers Association (MBA) report, the Market Composite Index—the measure of mortgage loan activity…
The Personal Consumption Expenditures (PCE) Index, which is the Federal Reserve’s preferred gauge of inflation, rose to 2.8% in September on an annual basis. According to data from the Commerce Department released Dec. 5, core PCE rose 0.2% over the previous month. The report, delayed by the government shutdown, seemingly gives a further green light…
Home purchase application activity fluctuated over the Thanksgiving holiday period, both increasing and decreasing over the past few weeks. This week mortgage activity saw a slight decline. According to the latest Mortgage Bankers Association (MBA) report, the Market Composite Index—the measure of mortgage loan activity volume—decreased 1.4% from one week earlier on a seasonally adjusted…
After a period of relatively steady activity, home purchase applications fell back this week as mortgage rates reached recent multi-week highs. The Mortgage Bankers Association (MBA) reports that the market composite index—the measure of mortgage loan activity volume—decreased 5.2% from one week earlier on a seasonally adjusted basis for the week ending Nov. 14, following…
Mortgage rates saw little movement this week, reflecting a overall market pause related to the government shutdown these past weeks and related uncertainty, economists say. According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday, the average 30-year fixed-rate mortgage (FRM) moved up 2 basis points this week to 6.24% from…
Applications for home purchases hit their fastest pace since September this week, despite a recent uptick in mortgage rates. Borrowers continue to shop for homes especially in markets where inventory has increased and price growth slowed, mortgage data watchers said. The Mortgage Bankers Association (MBA) reports that the market composite index—the measure of mortgage loan…
Following Fed Chair Jerome Powell’s comments last week that a December rate cut is not a guarantee, economists said mortgage rates moving higher was an expected market response but also one that favors an improving climate for home affordability. According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday, the average…
Mortgage application activity was mixed this week with overall purchase applications declining from last week, but a slight uptick in FHA loan applications and refinance applications still up significantly over last year indicates borrowers continue to look for ways to make homeownership more affordable. The Mortgage Bankers Association (MBA) reports that the market composite index—the…
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