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News
One Fed rate hike may not get the job done, Hammack warns
3+ hour, 52+ min ago (467+ words) For mortgage market participants bracing for a potential interest rate hike from the Federal Reserve this fall, Beth Hammack has some bad news: A single dose of policy tightening may be insufficient to whip inflation down. “I would say, in…...
Mortgage rate locks tumble as July rate spike curbs demand
2+ hour, 33+ min ago (435+ words) Mortgage rate-lock volumes plunged in July as borrowing costs surged amid renewed fighting in the ongoing Iran war, inflationary pressures and bond market volatility. The market share of rate locks for loans eligible for sale to Fannie Mae and Freddie…...
Shifting balance of risks underscores regional home price trends: Cotality
1+ day, 4+ hour ago (434+ words) National home prices rose at a sluggish pace in June as regional inventory and job growth trends drive fragmented performance across local markets. Price gains continued to concentrate in underbuilt Midwest and Northeast metros, as persistent softening across some areas…...
CMBS office delinquency rate hits all-time high in July
1+ day, 6+ hour ago (320+ words) The office delinquency rate on commercial mortgage-backed securities (CMBS) reached a new all-time high of 8.89% in July, surpassing the previous peak of 8.83% recorded in September 2012, according to data from Fitch Ratings. Trepp, a provider of analytics for the commercial real…...
Job growth turns negative in July in unexpected hiring slowdown
4+ day, 10+ hour ago (683+ words) Monthly job creation turned negative in July for the second time in 2026, marking the second consecutive month that U.S. hiring has widely missed forecasts. Initial estimates from the U.S. Bureau of Labor Statistics show nonfarm payrolls declined by 23,000 last month. Economist surveys…...
Uncertainty, steeper yields push mortgage rates to one-year high
5+ day, 6+ hour ago (332+ words) Mortgage rates for 30-year fixed-rate loans crossed a crucial threshold this week that few — if any — industry watchers expected they would cross in 2026. That threshold, in a phrase, is “higher than a year ago.” Freddie Mac reported Thursday that mortgage…...
Mortgage slump deepens as rates break through year-ago levels
6+ day, 12+ hour ago (408+ words) Mortgage rates blew past year-ago levels last week, driving annual declines in purchase and refinance application activity, the Mortgage Bankers Association (MBA) said Wednesday. The MBA’s Market Composite Index, a measure of mortgage loan application volume, declined 2.9% on a seasonally…...
Private sector job gains slow in July, missing forecasts
6+ day, 13+ hour ago (390+ words) Private sector firms added 44,000 jobs in July compared to expectations of 75,000 forecast by economists polled by Dow Jones. Economists surveyed by Reuters had forecast gains of 70,000. The weaker private sector hiring gains in July represent the lowest monthly tally of…...
PCE inflation cools more than expected in June, muddying the Fed’s policy path
1+ week, 5+ day ago (446+ words) Inflation cooled in June, according to the Federal Reserve’s preferred gauge, as a temporary easing of the U.S.-Iran military conflict drove energy prices down. But the personal consumption expenditures (PCE) price index remains well above the Fed’s 2% target, posing…...
Even 15-year mortgage rates are above 6% now as Treasury yields spike
1+ week, 5+ day ago (548+ words) The average 30-year fixed-rate mortgage rose eight basis points to 6.66% over the past week, casting an ominous shadow on the back half of the summer homebuying season. That’s according to Freddie Mac’s weekly rate survey, which showed the 30-year rate…...