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,
The latest inflation report came in hotter than expected. For homebuyers and sellers, that means mortgage rates are likely to stay elevated for now–but we still expect them to decline by the end of 2024. Inflation came in higher than expected in January, meaning mortgage rates should settle in the low 7s today. The March
The latest jobs report came in stronger than expected. Together with the Fed press conference and news from the U.S. Treasury this past Wednesday, this week’s economic news is a wash for mortgage rates: They’re ending the week where they started. The January jobs report came in with monster numbers. Although there are some statistical
The Fed essentially took a March interest-rate cut off the table, which means mortgage rates are likely to stay higher for longer. But we still expect rates to gradually decline by the end of the year, making buying a home a bit more affordable. The Fed announced they’re holding interest rates steady near a two-decade
Consumer prices rose slightly more than expected to close 2023, but the news shouldn’t move mortgage rates much or impact the overall housing market. The December CPI report is unlikely to have much of an impact on financial markets or mortgage rates. Consumer prices rose slightly more than expected in December, but not enough to
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