A rising tide of financial pessimism is washing over U.S. consumers, driven by concerns about inflation, global instability and a lack of economic clarity. At the same time, a solid majority of Americans remain optimistic about their financial future, according to TransUnion’s Consumer Pulse Study for the second quarter of 2025. The result is a […]
‘Feelings-based recession’: More Americans fearful of finances Read More »
The Federal Reserve held benchmark rates steady in the range of 4.25% to 4.5% following its two-day meeting on Wednesday, a decision with implications for the mortgage industry. The move, expected by virtually all monetary policy watchers, underscores the challenge facing the Federal Reserve — deciding when it’s appropriate to cut rates. It’s a delicate
Fed holds rates steady amid inflation concerns, resilient job market Read More »
Even though new home sales showed growth last month, the homebuilders — both big and small — have no desire to grow housing permits or starts with 7% mortgage rates. Housing starts and permits peaked in 2022 and have been fluctuating at levels similar to the early stages of the COVID-19 recession for some time
Homebuilders have no motivation to grow permits with 7% rates Read More »
Fannie Mae’s and Freddie Mac’s regulator called for Federal Reserve Chairman Jerome Powell to step down on Wednesday if he doesn’t cut short-term rates, as monetary policymakers left them unchanged again. “Jay Powell is hurting the housing market by being too late to lower rates. He needs to resign, effective immediately,” Bill Pulte said in
Fannie, Freddie regulator: Powell should cut rates or quit Read More »
Federal Reserve officials left interest rates unchanged and continued to pencil in two rate cuts in 2025, saying uncertainty over the economic outlook was still high but had diminished. The Federal Open Market Committee voted unanimously on Wednesday to hold the benchmark federal funds rate in a range of 4.25%-4.5%, as they have at each
Fed officials hold rates again, still see two cuts by year end Read More »
Fears of tariffs and inflation abound these days, with many Americans concerned that rising prices will push up housing costs. But even as younger consumers worry about buying a home, many of them remain hopeful about their own finances, offering some encouraging news to mortgage lenders looking for unmet demand. More than half or 55%
What Americans’ optimism about finances means for lenders Read More »
New U.S. residential construction declined in May to the slowest pace since the onset of the pandemic as an elevated inventory of homes for sale and high mortgage rates sapped the motivation to build. Housing starts decreased 9.8% to an annualized rate of 1.26 million homes last month, according to government figures released Wednesday. The
New home construction falls to five-year low Read More »
Mortgage rate movements stayed muted as investors await the culmination of June’s Federal Open Market Committee meeting later on Wednesday. Rates declined for the third consecutive week, but remained in that tight 6.8% range, the Freddie Mac Primary Mortgage Market survey reported. The survey was released a day early because of the Juneteenth holiday. What
Mortgage rates move lower ahead of Fed decision Read More »
It’s hard to let go of a 3% mortgage rate. There’s no question about it. It’s the main reason why so many homeowners have delayed their move in recent years. But here’s something to consider. While your low rate might be ideal, it doesn’t make up being too cramped, having a staircase your knees can’t
Why More Sellers Are Choosing To Move, Even with Today’s Rates Read More »
The housing affordability crisis often conjures images of coastal urban cities with acute housing supply shortages and heavy land-use regulations. While these places do tend to have the highest home prices, it’s not where costs are rising the most. That’s according to a sprawling new study from JPMorgan Chase that examines affordability from a number
The pandemic made housing less affordable, but not in the obvious places Read More »