Consumers are giving mixed messages on how they feel about the current home purchase market and this is likely feeding into the Spring season, a Bank of America report found. Among current homeowners and prospective buyers, 60% claim they are unable to tell whether now is a good time to purchase a home or not. […]
Spring housing outlook: not all bad news Read More »
US Treasuries trimmed early losses after a $70 billion auction of new five-year securities lured solid investor demand. The yield on 10-year benchmark Treasuries was up about three basis points following Wednesday’s sale, after earlier climbing more than five basis points. READ MORE: Home-refinancing gauge falls to three-month low as rates near 7% The shift
US treasuries pare losses as investors snap up five-year notes Read More »
Will mortgage rates go higher if the government takes the GSEs out of conservatorship? Many people would say yes if there were no government backing of these two giants, but on Tuesday evening the calculus changed. In a social media post on Tuesday, President Trump expressed his intention to transition the government-sponsored enterprises (GSEs) out
What implicit guarantee means for rates on GSEs’ release Read More »
On Monday, FHFA Director Bill Pulte called on Federal Reserve Chairman Jerome Powell to lower interest rates. His exact tweet was: “Jay Powell needs to lower interest rates – enough is enough. President Trump has crushed Biden’s inflation, and there is no reason not to lower rates. The housing market would be in much better
FHFA Director Pulte calls on Powell to lower interest rates Read More »
Releasing the GSEs from conservatorship became a hot topic again this week after President Trump posted that he was giving it “serious consideration” on Wednesday, followed by a Bloomberg interview with Treasury Secretary Scott Bessent on Friday. The timing of the president’s announcement took many by surprise, given rising bond yields, an uncertain trade war
Bessent weighs mortgage rate risk in potential release of GSEs Read More »
U.S. new-home sales rose unexpectedly in April to the highest level since February 2022 on a surge in the South and Midwest. Purchases of new single-family homes increased nearly 11% last month to a 743,000 annual rate, according to government data released Friday. The median estimate in a Bloomberg survey of economists was a 695,000
New-home sales top forecasts on surge in South and Midwest Read More »
Home sales transactions were cancelled at a near-record rate in April, another likely side effect of uncertainty enhanced by President Trump’s tariff announcement earlier in the month, Redfin said. Approximately 56,000 signed purchase agreements were withdrawn during the month, which equates to a 14.3% rate. This is up from 13.5% one year ago and is
Home sales cancelled at near-record pace in April Read More »
The 30-year fixed rate mortgage moved 5 basis points higher from last week, but still remains under 7%, at least according to Freddie Mac. “Mortgage rates inched up this week but continue to remain lower than one year ago,” said Sam Khater, Freddie Mac’s chief economist, in a press release. “With more inventory for buyers
Mortgage rates keep rising, influenced by DC developments Read More »
U.S. sales of previously owned homes unexpectedly dropped in April to the slowest pace in seven months, restrained by ongoing affordability constraints and highlighting a lackluster start to the key Spring selling season. Contract closings decreased 0.5% to an annualized rate of 4 million, according to National Association of Realtors data released Thursday. That fell
Existing-home sales decline, marking worst April since 2009 Read More »
If you’ve been house hunting lately, you’ve probably felt the sting of today’s mortgage rates. And it’s because of those rates and rising home prices that many homebuyers are starting to explore other types of loans to make the numbers work. And one option that’s gaining popularity? Adjustable-rate mortgages (ARMs). If you remember the crash
Thinking about an Adjustable-Rate Mortgage? Read This First. Read More »
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