The Federal Reserve Bank of New York building.Bloomberg News The Federal Reserve’s policy rate is a long way from its lowest point, but markets remain concerned about a return to zero interest rates, according to findings from the Federal Reserve Banks of New York and San Francisco. In an economic letter released Monday, reserve bank […]
NY Fed report: Return to zero rates a ‘significant’ risk Read More »
Bloomberg News WASHINGTON — The House narrowly passed a massive tax and spending bill, capping months of deliberations and sending President Trump’s signature legislative priorities to his desk, where he is expected to swiftly sign it, symbolically, on July 4. The bill passed in a 218-214 vote, mostly along party lines. Reps. Thomas Massie of
GOP megabill cutting CFPB funding goes to Trump’s desk Read More »
For the first time since mid-April mortgage rates fell below 6.7%, but the data doesn’t take into account the diminished likelihood the Federal Open Market Committee will reduce short-term rates at this month’s meeting. It is a result of this morning’s jobs report coming in hotter than expected, with observers now postulating the Fed is
Mortgage rates drop again but chance of Fed cut also falls Read More »
A side effect of the rising costs of homeowners’ insurance is that mortgage borrowers elect to reduce coverage or take a higher deductible in order to reduce premiums. In either case, such actions could leave them underinsured and/or unable to finance repairs. This increases borrower default risk for mortgage servicers, and affects the value of
Gen Z and other homeowners to delay repairs due to economy Read More »
Federal Reserve Chair Jerome Powell.Bloomberg News Some Federal Reserve officials are starting to beat the drum for an interest rate cut, but not Chair Jerome Powell. During an onstage panel event in Portugal, Powell said he is not putting a rate cut on the table for this month’s Federal Open Market Committee. But he also
Powell unbowed by pressure to cut rates in July Read More »
Investor reaction to events of the past eight days has contributed to mortgage rates moving below 6.8% for the first time since the start of May, Freddie Mac said. The 30-year fixed-rate mortgage was at 6.77% as of June 26, compared with 6.81% eight days prior and 6.86% for the same week in 2024, the
Mortgage rates slide after FOMC meeting, Iran attack Read More »
Fear of a recession is back in the headlines. And if you’re thinking about buying or selling sometime soon, that may leave you wondering if you should reconsider the timing of your move. A recent survey by John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM) shows 68% of people are delaying plans
Think It’s Better To Wait for a Recession Before You Move? Think Again. Read More »
In the aftermath of the Federal Open Market Committee’s June meeting, certain interest rate spreads should narrow, but the overall impact for mortgages is mixed, a Keefe, Bruyette & Woods report said. Part of that depends on which segment of the industry the company operates in. Mortgage rates remaining elevated, with the 30-year fixed only
Mortgage servicers benefit most from Fed’s inaction: KBW Read More »
Home prices continued to rise in May, reaching a new high even as fears of tariffs, trade wars, and economic uncertainty swirl through the broader economy. The median sale price for a home reached an all-time record of $396,500 during the four weeks ending June 15, according to Redfin. This was up 1% from the
High home prices hide broader slowdown as demand drops Read More »
U.S. stocks rose early Friday as investors returned from the Juneteenth holiday break to evaluate recent comments from a top Federal Reserve official as well as the latest developments in the conflict between Israel and Iran. The S&P 500 Index gained 0.6% at 9:43 a.m. in New York, with the benchmark teetering between a weekly
Stocks gain as Fed’s Waller offers hope on July rate cut Read More »