Fannie Mae now forecasts mortgage rates to slip back under 6% by the second quarter of 2026 as it elevated its gross domestic product outlook and modified its home sales projections. The origination forecast, while increased over both its March and April projections, other than for rates, remains more conservative than the Mortgage Bankers Association’s […]
Mortgage rates will go below 6% next year, Fannie says Read More »
The Mortgage Bankers Association’s latest forecast for 2025 expects volume to be slightly lower than previously thought, with a 14% increase in the number of units produced. Mike Fratantoni, the group’s chief economist speaking at its Secondary & Capital Markets Conference in New York on Monday, recounted discussions he had in recent days with people
Lenders feel better, not exuberant, about housing market Read More »
Sean Grzebin stepped into the role of CEO of Chase Home Lending in November, armed with the advantage of having worked across functions at the bank since 2011. With a career that has taken him from PHH Mortgage in 1997, to Countrywide, to Goldman Sachs and then Chase, Grzebin has seen his share of market
Chase Home Lending CEO on AI, growth, and market volatility Read More »
While the 30-year fixed rate mortgage remained under 7% for the 17th consecutive week according to Freddie Mac’s calculations, it increased 5 basis points as the bond markets remain volatile over the U.S. economy. This and other measurements moved in the same direction with the yield on the 10-year Treasury, which rose 25 basis points
Inflation news helps to push mortgage rates higher Read More »
The average home in more than half of the nation’s metro areas was overvalued by more than 10% during the fourth quarter of 2024, the latest Sustainable Home Price Trends report from Fitch Ratings declared. Nationwide, prices were 11% above where they should be, a reduction from 11.1% in the third quarter. But 85% of
Even as prices moderate, many US homes remain overvalued Read More »
Federal Reserve Vice Chair Philip Jefferson.Bloomberg News The Federal Reserve’s second-in-command is looking for solid evidence of the impact of tariffs before throwing his support behind changing interest rates. In a Wednesday morning speech, Fed Vice Chair Philip Jefferson said the central bank’s current monetary policy stance gives it the flexibility needed to respond to
Fed vice chair focused on ‘hard data’ amid uncertainty Read More »
April’s increase in rate lock activity does lend some support to the optimistic views on Spring’s market, according to Optimal Blue. Its Market Volume Index, a measurement of rate lock activity, was at 109 for April. This was up from 105 in March, a gain of 3.2%, and 103 for April 2024, 5.9% higher. This
What rate lock activity means for the Spring purchase market Read More »
Bloomberg News Prices continued to trend down toward the Federal Reserve’s 2% target last month despite the rollout of sweeping tariff hikes. The Consumer Price Index rose 0.2% in April for an annualized increase of 2.3%. Core CPI, which factors out food and energy, was up 0.2% on the month and 2.8% year over year.
CPI inflation continues to trend down despite tariff rollout Read More »
Economists surveyed by Wolters Kluwer remain solidly behind the notion that the Federal Open Market Committee will reduce short-term rates in 2025. Its May Blue Chip Economic Indicators report even included the possibility that the Fed could actually raise interest rates in 2025 based on comments made by Chairman Jerome Powell which the authors noted
Most economists expect rate cuts after July Read More »
Bloomberg News The U.S. and China have agreed to pause the bulk of their tariff policies against one another for 90 days, sending a jolt of optimism through the banking sector and its investors. The temporary truce was struck over the weekend and announced on Monday, causing stocks to rally and credit spreads to tighten
U.S.-China tariff truce gives banks hope amid uncertainty Read More »
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