When many economic indicators pointed to issues with inflation, the governors of the Federal Reserve’s Open Market Committee (FOMC) instead voted once again to maintain their “wait and see” approach in their most recent meeting. Newly released minutes from the meeting, however, reveal that three members of the committee did in fact advocate for a…
While mortgage rates and applications changed little last week, home-purchase applications retreated and were lower than last year’s pace, signaling to economists that continuing affordability challenges and economic uncertainty remain in place for price-sensitive buyers. The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and includes purchases…
Mortgage rates remained relatively steady from last week, but an increase in home-purchase application activity after multiple weeks of decreases shows that homebuyers are getting accustomed to the current environment and responding to even slight rate decreases. This week, the average 30-year fixed mortgage rate (FRM) decreased two basis points to 6.67%, down from 6.69%…
While mortgage rates remain elevated, a slight retreat this past week drove home-purchase application activity up for the first time in several weeks. The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and includes purchases and refinances—shows mortgage application activity increasing this week 3.6% on a seasonally…
As many Americans blasted their ACs and took to the roads for summer vacations in July, the cost of energy decreased slightly while inflation overall rose slowly. For the month of July, the Bureau of Labor Statistics (BLS) reports that the Consumer Price Index (CPI) increased slightly by 0.1% on a seasonally adjusted basis. This…
As we slip into the second half of 2026, major homebuilders are looking past this challenging year and making their predictions for the future in a so-far very unpredictable market. Three major homebuilders—D.R. Horton, Lennar Corp and PulteGroup—ended their earnings calls over the last few weeks with optimistic yet guarded sentiments, as the real estate…
Editor’s note: Econ Review is a roundup of the housing and economic market data reports released during the month. As the first half of 2026 has come to a close, the larger expectations for the housing market may not necessarily have been met, but optimism remains. 2026 was originally expected to be a year of…
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A resilient labor market may finally be bowing under the pressure of back-and-forth tariffs, the now five-month-long war against Iran and inflationary pressure on wages, with the federal Bureau of Labor Statistics (BLS) reporting a decrease of 23,000 payrolls in July with downward revisions of previous months. Most sectors lost jobs, with healthcare a notable…
Mortgage rates continued their upward march, coming in above year-ago levels for the first time in 44 weeks, but economists are pointing to improving trends in housing inventory and list prices as a silver lining for buyers. The average 30-year fixed mortgage rate (FRM) rose three basis points this week to 6.69%, up from 6.66%…
Those shopping for a home or a refinance for a lower rate appear to be moving back to the sidelines this past week, as application activity for both has declined for a second consecutive week following mortgage rates rising to their highest point in more than a year. The latest Market Composite Index from the…
The post Home Shoppers Pull Back as Rates Hit Highest Point in Over a Year appeared first on RISMedia.
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