The March inflation report came in hotter than expected, which means the Fed is highly unlikely to cut interest rates in June–and could mean the Fed only cuts rates once this year. The news is already pushing up mortgage rates. Higher-than-expected inflation in March means that the Fed will almost certainly delay rate cuts until
Employment growth was strong in March, which ultimately means mortgage rates are likely to stay higher for longer. But next week’s inflation data is the main factor the Fed will take into consideration. The March jobs report came in hot. Strong growth in U.S. employment makes it more likely the Federal Reserve will delay their
The Fed’s announcement that they’re holding interest rates steady–but still project three rate cuts in 2024–won’t immediately send mortgage rates down, but it shouldn’t send them up, either. The Federal Reserve announced they’re holding interest rates steady during their March 20 meeting, as expected. The Fed still projects three rate cuts this year starting at
The latest CPI report essentially eliminates the chance that the Fed will cut interest rates in May, but they’re still likely to cut in June. Core inflation came in slightly higher than expected in February. There are reasons to be worried about inflation getting stuck, but it’s not time to panic. Rates will end the
The latest jobs report was a mixed bag, but homebuyers and sellers can still expect the Federal Reserve to cut interest rates in May or June. The jobs report this morning was a pretty mixed bag, with higher than expected job gains for February, but also a higher than expected unemployment rate and large revisions to
The total value of U.S. homes jumped 5%, the biggest gain in nearly a year, as a shortage of houses for sale propped up values. Affordable East Coast and Midwest metros saw gains of over 10%, while pricey metros and pandemic boomtowns saw declines. The U.S. housing market gained $2.4 trillion over the last year,
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