Fed Hikes Rate, Begins Reducing Balance Sheet to Tame Inflation
The Fed increased its benchmark rate by half a percentage point and laid out a plan to reduce its balance sheet to fight inflation.
May 4, 2022 2 MIN
The Fed increased its benchmark rate by half a percentage point and laid out a plan to reduce its balance sheet to fight inflation.
A surge in home prices coupled with a jump in mortgage rates sent affordability for American homebuyers to the lowest level since 2008, according to a report from NAR.
The co-called “core PCE,” the Fed's favored inflation measure that excludes volatile food and energy prices, rose 5.2% in March from a year earlier, slowing from February's pace.
Gross domestic product in the first quarter fell 1.2% from a year earlier, the first contraction since the beginning of the pandemic, as Covid-19 infections surged.
Signed contracts to purchase homes fell 1.2% in March to the lowest level in almost two years, according to the National Association of Realtors.
Surging mortgage rates and record-high prices for new houses are straining affordability, according to the National Association of Home Builders.
A shortage of listings is keeping U.S. home-price gains at near-record levels even as mortgage rates surge, according to a report on Tuesday.
The world’s largest economy probably will expand 3.1% in 2022, the second-fastest pace in 17 years, Goldman Sachs economists said in a forecast.
The U.S. housing market is showing signs of a return to pre-pandemic days, a First American economist said in a report.
The average U.S. rate for a 30-year fixed mortgage rose to the highest since April 2010, Freddie Mac said in a report on Thursday.
Allowing the VA loan fees to reset as scheduled will save veterans and active-duty military members about $200 million annually, the lenders’ group said.
A homebuyer would need $48,435 of annual income to qualify for a mortgage on a $180,000 median-priced home in Detroit, making it the most affordable U.S. metro area.
Don't wait until you find your dream house to check your credit reports for errors.
Flood insurance is separate from your standard homeowner’s insurance, and if you are buying in a flood plain, most lenders
