Fannie Mae is holding to its forecast of a modest economic downturn in 2024, in spite of statements by the Federal Reserve that a soft lending is achievable, and inflation is on its way down to the 2% target. Many ...
U.S. new-home construction unexpectedly surged in November to a six-month high, benefiting from a dearth of existing houses on the market and suggesting the crunch in residential real estate is easing. Residential starts increased 14.8% last month to a 1.56 ...
Federal Reserve Chair Jerome Powell’s pivot toward interest-rate cuts is spreading holiday cheer in the White House, where the improved prospects for an economic soft landing are a boon for President Joe Biden’s bid for another term.? Biden has seen ...
Sales of previously owned homes unexpectedly rose in November, led by a pickup in the South and representing a respite in a two-year downturn caused by higher borrowing costs and a lack of inventory. Contract closings increased 0.8% from a ...
U.S. homebuilder sentiment improved in December for the first time in five months as falling mortgage rates led to a pickup in prospective-buyer traffic and sales expectations. The National Association of Home Builders/Wells Fargo gauge rose 3 points to 37, ...
Whereas common mortgage charges elevated by a single foundation level this week, they need to transfer decrease going ahead in 2024 as inflation cools and the Federal Reserve reverses course, Freddie Mac stated. The Main Mortgage Market Survey put the ...
Actual property shares had been the largest drag on the S&P 500 Index Wednesday as merchants moved again their bets on an interest-rate lower.? The sector, which was one of many largest beneficiaries of easing charges within the fourth quarter, ...
Mortgage charges elevated 9 foundation factors this week, however have remained in the identical vary since mid-December, which portends properly for the spring dwelling promoting season, Freddie Mac reported. The federal government-sponsored enterprise’s Main Mortgage Market Survey discovered the typical ...
Shopper spending is part of the explanation why Fannie Mae flipped its forecast to development, however at a slower tempo than regular, from a recession, its economists defined in a gathering with Nationwide Mortgage Information. The January outlook now requires ...
After a yr of huge swings and quite a few head fakes, the U.S. 10-year yield is poised to finish 2023 virtually precisely the place it started. It is an virtually farcical conclusion to 12 months of buying and selling ...