Items Tagged with 'Interest rates'

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Freddie Mac: Mortgage rates hover near 4% mark

Markets erring on side of caution
Mortgage rates held steady this week as the 30-year mortgage changed by only one basis point. Freddie Mac explained the market is erring on the side of caution after last week’s weak GDP growth and the Fed’s decision against raising interest rates.
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FOMC unanimously votes against raising interest rates

Next meeting scheduled for June
The Federal Open Market Committee unanimously voted to hold off on raising interest rates in May after announcing a rate hike the previous meeting. The FOMC’s decision in its last meeting in March to raise rates marked the second time in three months and the first time in 2017.
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Here’s the real state of the housing market

Is a recession on the horizon?
Three of the mortgage industry’s leading economists joined together at MBA Secondary in New York City to discuss the current state of the housing market. They addressed key issues such as, is a recession on the horizon? How many times will the Fed raise rates this year? And is San Francisco in a housing bubble?
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FOMC minutes reveal when Fed may shrink balance sheet

Looks to happen sooner than markets expected
The Federal Open Markets Committee released minutes from its March meeting, showing it may shrink its balance sheet sooner than the market expected. Members didn’t give any specifics on how the reduction will occur, or even when, but did comment on a general time frame.
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Millennials lead other generations in rising HELOC trend

HELOCs expected to replace dwindling refis
As interest rates rise, refinances continue to decrease, leaving an open gap in the market for home equity lines of credit to take the place. Interest rates are up from last year, but so are home prices, giving homeowners a new source of equity to tap into. Most surprising, however, was that Millennials hold the leading share of HELOCs.
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Fannie Mae: Lender optimism higher than ever

But profit margins sink
Consistent with the rest of the market, including builders and consumers, a new survey from Fannie Mae shows even lenders are hitting new survey highs when it comes to confidence in the economy. However, as the market shifts away from refinance mortgages, profit margin outlooks remain low among lenders.
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