Eye On Housing
For the second consecutive month, information compiled by Freddie Mac shows that mortgage rates increased slightly on a year-over-year basis. As of end of November 2019, the 30-year FRM – Commitment rate, increased by one basis points to 3.70 percent from 3.69 percent in October. The cycle peak was 4.87 percent in November. The Federal Reserve maintained the benchmark interest… Read More ›
For the first time since November of last year, information compiled by Freddie Mac shows that mortgage rates increased slightly. As of end of October 2019, the 30-year FRM – Commitment rate, increased by eight basis points to 3.69 percent from 3.61 percent in September. The cycle peak was 4.87 percent in November. As expected, The Federal Reserve lowered its… Read More ›
The Federal Reserve reduced the target range for the key, short-term federal funds rate by 25 basis points to a top rate of 1.75% at the conclusion of its October Federal Open Market Committee (FOMC) meeting. This was the third cut in 2019, almost fully reversing a set of increases enacted in 2018. The FOMC views these enacted reductions as… Read More ›
For the ninth straight month, information compiled by Freddie Mac shows that mortgage rates continued to decline but at a slow pace. As of September 2019, the 30-year FRM – Commitment rate, fell by one basis points to 3.61 percent from 3.62 percent in August. The cycle peak was 4.87 percent in November. According to the September 2019 Federal Open… Read More ›
The Federal Reserve reduced the key, short-term federal funds rate by 25 basis points to a top rate of 2% at the conclusion of its September Federal Open Market Committee (FOMC) meeting. This was the second cut in 2019, partially reversing a set of increases enacted in 2018. The more dovish stance of the Fed is good for housing and… Read More ›
For the eighth straight month, information compiled by Freddie Mac shows that mortgage rates continued to decline. As of August 2019, the 30-year FRM – Commitment rate, fell by 15 basis points to 3.62 percent from 3.77 percent in July. The cycle peak was 4.87 percent in November. According to the July 2019 Federal Open Market Committee meeting statement, as… Read More ›
Recent jolts to the economy stemming in part from an intensified trade war with China have worried markets and resulted in a significant decline in interest rates as investors have shifted from equity to bonds. Lower interest rates present an opportunity for the housing market, which has failed so far to respond energetically to this positive development due to prior… Read More ›
Perhaps as the most telegraphed interest rate cut of recent decades, the Federal Reserve reduced the key, short-term federal funds rate by 25 basis points to a top rate of 2.25%. This policy change is good for housing and home building, which continue to face housing affordability headwinds in spite of favorable demographics. There were two dissents to the announcement,… Read More ›
For the seventh straight month, information compiled by Freddie Mac shows that mortgage rates continued to decline. As of July 2019, the 30-year FRM – Commitment rate, fell by four basis points to 3.77 percent from 3.80 percent in June. The cycle peak was 4.87 percent in November. According to the June 2019 Federal Open Market Committee meeting statement, the… Read More ›
At the conclusion of its May meeting, the Federal Reserve held the key, short-term federal funds rate steady, with a top rate of 2.5%. The decision was unanimous and widely expected, with members of the Federal Open Market Committee agreeing that while economic growth conditions remain “solid,” inflation pressures remain anchored. In fact, the Fed’s preferred inflation gauge, the core… Read More ›