Consumer Confidence Unexpectedly Rebounds as Gas Prices Ease
“A reprieve in gas prices was immediately recognized by consumers,” Wells Fargo economists said.
“A reprieve in gas prices was immediately recognized by consumers,” Wells Fargo economists said.
The average U.S. 30-year fixed rate for so-called conforming loans given to the best-qualified borrowers is the highest since February 2011.
The CFPB sued TransUnion, one of the nation’s largest credit bureaus, claiming it violated a 2017 consent order.
The so-called core reading of the consumer price index, stripping out volatile energy and food prices, showed a glimmer of good news, economists said.
Almost three-quarters of American consumers in March said they believed now is a “bad time to buy” real estate, a record high, according to a report from Fannie Mae.
The daily average rate for a 30-year fixed mortgage rose above 5% on Wednesday for the first time since 2018, according to Optimal Blue rate-lock data.
The share of sellers who had to reduce asking prices is rising at the fastest pace since August, Redfin said in a report.
Mortgage rates reached a four-year high this week, boosting the average monthly home-loan payment by 20% from a year ago, Freddie Mac said.
The Fed plans to reduce its balance sheet more aggressively than the last time it ended a bond-buying program, according to minutes released on Wednesday.
Home prices grew 20% in February from a year earlier, a record pace, as buyers competed for a limited amount of properties on the market, CoreLogic said.