I discussed the jobs report in detail in this article and on this episode of the HousingWire Daily podcast. Given today’s drop, let’s discuss what we should focus on for the rest of the year. Where does this drop fit in the forecast? In my 2025 forecast, I anticipated the following ranges: Mortgage rates between
Two Fed officials, Christopher J. Waller and Michelle Bowman, dissented. Waller supported a 25 basis-point cut due to minimal tariff effects and increased labor market risks. Bowman advocates for a gradual shift to a neutral policy stance, citing slowing economic growth and a less dynamic labor market. A growing number of market participants — 88%
Mortgage rates trended slightly downward on Thursday after the Federal Reserve held firm on its rate policy, maintaining a wait-and-see stance despite mounting political pressure. The average rate on 30-year fixed home loans registered 6.72% for the week ending July 31, down just slightly from 6.74% last week, according to Freddie Mac. Rates averaged 6.73%
In a split decision, the Federal Reserve on Wednesday left its key policy rate unchanged yet again, hours after President Donald Trump called on Fed Chair Jerome Powell to cut rates and boost the housing market. As was widely expected, Fed policymakers left the central bank’s overnight rate unchanged at a range of 4.25% to
Rates have shown less volatility since April, coinciding with President Donald Trump’s global tariff policies. The 30-year conforming rate has barely deviated from a narrow band between 6.8% and 7% since mid-April, according to HousingWire’s data. The market has also had stability due to a consistent policy stance by the Federal Reserve, which has held
By Saqib Iqbal Ahmed NEW YORK (Reuters) -Uncertainty over Federal Reserve Chair Jerome Powell’s tenure is prompting investors to assess potential market reactions should there be an premature change in leadership at the U.S. central bank. President Donald Trump has repeatedly criticized Powell for not cutting U.S. rates quickly enough. He has frequently raised the
As the housing market continues to evolve in the shadow of persistent inflation and shifting buyer behavior, this week’s economic data provides important clues for both policymakers and home shoppers. Markets are closely watching the Federal Reserve for signals of a policy shift, but this week’s consumer price index report reinforced expectations that a rate
Cortelyou shuffled that paper in a not-so-efficient way (Photo by Heritage Art/Heritage Images via … More Getty Images) Heritage Images via Getty Images We need the Federal Reserve because before we had it, the private banking system had panics all the time. Goodness gracious to we hear this justification for the Fed without surcease. We
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Help from the Federal Reserve in the form of lower benchmark rates is unlikely to arrive this month. The CME Group’s FedWatch tool on Tuesday showed that 95% of interest rate traders believe the federal funds rate will remain in a range of 4.25% to 4.5% when the Federal Open Market Committee meets at the