Mortgage rates ticked down slightly this week despite inflation concerns rising after this week’s CPI report. The average mortgage rate decreased 1 basis point to 6.36% down from 6.37% last week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday. Bright MLS Chief Economist Lisa Sturtevant said mortgage rates may…
Jerome Powell’s tenure as chair of the Federal Reserve concludes on May 15, bringing the eight years he has spent in the role to a close. Since the second Trump administration commenced, Powell (who was appointed to the Fed by Trump in 2018) has come under criticism from the President for, in Trump’s view, a…
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Freddie Mac reported today that mortgage rates increased this week, still being driven by geopolitical tensions and sticky inflation, according to economists. The average mortgage rate increased 7 basis points to 6.37%, up from 6.30%, last week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday. “The expectation of rates…
Since the commencement of the U.S. and Iran war, energy prices have soared, and the latest findings from the Bureau of Economic Analysis’ Personal Consumption Expenditure (PCE) index (the Federal Reserve’s preferred measure of inflation) found that catching up. The PCE price index experienced a large bump in March 2026; after hovering around 2.9% annual…
Mortgage rates bumped back up this week but overall remain in the low 6% range, contributing to a subdued but steady spring market, according to economists. The average mortgage rate ticked increased 7 basis points to 6.30%, up from 6.23% last week, and back to the same point from two weeks ago, according to the…
Jerome Powell’s reign at the Fed may be at its end, but he’s not going anywhere. On Wednesday, the Federal Reserve held interest rates steady at its April Federal Open Market Committee (FOMC) meeting, leaving the federal funds rate unchanged at a rate of 3.5%-3.75% for the third straight month since December’s quarter-point cut. And…
Mortgage rates have reached their lowest point since mid-March but economists worry inflation and economic uncertainty caused by tensions in the Middle East will result in temporary decreases versus more sustained stability. The average mortgage rate ticked down 7 basis points to 6.23%, down from 6.30% last week, according to the latest Primary Mortgage Market…
Tuesday morning, the Senate Banking, Housing, and Urban Affairs Committee held a confirmation hearing for Kevin Warsh, President Donald Trump’s nominee to succeed Jerome Powell as chair of the Federal Reserve. Warsh previously served on the Federal Reserve Board of Governors, appointed by President George W. Bush in 2006 and remaining until 2011. He has…
‘In a holding pattern’ is how economists are describing the spring market moving into April, with more policy stability and conflict resolution needed to move buyers and sellers back from the sidelines. The average mortgage rate ticked down 9 basis points to 6.37% this week, down from 6.46% last week after several weeks of increases,…
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As the eyes of many are on the Federal Reserve, eagerly looking forward to the first rate cut of 2026, the market has been awaiting the latest inflation data to help fill in some pieces of the puzzle ahead of the next Federal Open Market Committee (FOMC) meeting this month. While inflation came in largely…
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