After a negative report in late May, which came on the heels of three months of gains, nonprofit research firm The Conference Board’s Consumer Confidence Index, which measures American opinions of current economic conditions and their outlook for the next six months, inched up by 0.6 points to 91.2 in June, up from a downwardly…
As pending sales and existing home sales showed modest improvement in May, economists say despite mortgage rates remaining around 6.5%, homebuyers seem to be adapting to the current environment. The average 30-year fixed mortgage rate increased 2 basis points to 6.49% from 6.47% last week, according to the latest Primary Mortgage Market Survey® (PMMS®), released…
The Personal Consumption Expenditures (PCE) price index increased 0.7% in May, as the economy continues to absorb tariff impacts and Iran war-related disruption. Excluding food and energy (so-called “core inflation”), the headline PCE price index increased by 0.3%, according to the latest report from the Bureau of Economic Analysis. Year-over-year, the PCE price index increased…
Mortgage rates remain elevated but application volume remains higher than last year at this time, according to the latest data from the Mortgage Bankers Association (MBA). The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume and includes purchases and refinances—shows little change in application activity this week, increasing 1.0% on…
Mortgage rates lowered this week following a ceasefire agreement with Iran, a trend economists say may be more promising in light of a signed agreement by President Trump. The average 30-year fixed mortgage rate decreased to 6.47% from 6.52% last week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday.…
Nonprofit research organization The Conference Board’s Leading Economic Index (LEI) for the U.S.—which provides an early indication of significant turning points in the business cycle and where the economy is heading—increased slightly by 0.1% in May to 99.3, following a 0.2% increase in April, with plenty of uncertainty still around the future. After these two…
The Mortgage Bankers Association is pointing to a combination of economic and geopolitical forces ultimately netting a decrease in mortgage application activity this week. The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume and includes purchases and refinances—shows application activity decreasing 3.8% on a seasonally adjusted basis from a jump…
Home sales are expected to be modestly better in the second half of 2026, provided that inventory and housing supply continue to expand, as National Association of Realtors® Chief Economist Dr. Lawrence Yun said during the Residential Economic Issues and Trends Forum at the 2026 REALTORS® Legislative Meetings. NAR’s current forecast calls for existing-home sales…
Following a slight average mortgage rate increase this week, economists are pointing to a slow summer housing market ahead and even a possible interest rate increase, but recent housing reports show the market continues to hold steady. The average 30-year fixed mortgage rate increased to 6.52% from 6.48% last week, according to the latest Primary…
The labor market remains in good standing, beating out economist expectations for another month in May as the rest of the economy continues to waiver under the pressure of geopolitical uncertainty. The latest Employment Situation Summary from the Bureau of Labor Statistics saw the U.S. add 172,000 jobs in May, “well above forecasts ranging from…
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