Fed cuts rates with more likely coming. What does it mean for housing?
In short: The Federal Reserve on Wednesday said it would lower its target for the federal funds rate by a quarter basis point. The Fed also forecasted two additional rate cuts this year. The move was widely anticipated, and mortgage rates aren’t likely to jump or fall much in response. The 10-year Treasury yield – which […]
Homebuyers Have Been Retreating. Now Sellers Are Too.
The U.S. housing market has lost about 14,000 home sellers over the past two months, with the total number of sellers falling to 1.95 million in July from a peak of 1.96 million in May. This marks the first decline since July 2023, when the supply of homes for sale bottomed out near a historic […]
U.S. 30-Year Mortgage Rates Hit 10-Month Low — Is the Housing Market Catching Its Breath?
Rates Fall for 4 Straight Weeks to 6.58%, Boosting Buyer Confidence and Driving a Surge in Refinancing Applications The average interest rate for 30-year fixed-rate mortgages in the United States has fallen to its lowest level in 10 months, raising hopes of breathing new life into the sluggish housing market. Freddie Mac, a leading mortgage […]
