Federal Reserve
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‘It is Time to Taper,’ Fed Reveals Economic Plan
November 4th, 2021
The Federal Open Market Committee (FOMC) met this weekend to approve plans to scale back its asset purchases amid improving economic activity and employment outlooks. As a result, Fed officials announced on Nov. 3 that it would begin “tapering” its...
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Inflation Concerns Persist: High Demand, Low Supply Straining the Economy
November 10th, 2021
Consumer inflation increased 0.9% in October, according to the latest data from the Labor Department, which reported prices are up 6.2% YoY—the highest increase since 1990. While economists have been predicting slowdowns in price gains, high demand and constrained supply...
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Forget COVID: Fed Pivots to Focus on Inflation Concerns
December 17th, 2021
The Federal Reserve is queuing up to make more aggressive moves in the coming years, a departure from the easing-in strategy it implemented amid the pandemic to incentivize economic recovery. While Fed officials voted to hold rates near zero on...
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Mortgage Rates Inch Up Following Fed Policy Changes
December 17th, 2021
The 30-year fixed-rate mortgage (FRM) averaged 3.12% for the week ending Dec. 16, according to Freddie Mac’s latest Primary Mortgage Market Survey®. Mortgage rate details: The 30-year fixed-rate mortgage averaged 3.12% with an average 0.6 point, up from last week when...
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Inflation Climbs to Historic Levels at 7%
January 12th, 2022
The Bureau of Labor Statistics (BLS) released its consumer price index (CPI) summary Tuesday morning showing an almost 40-year high year-over-year increase in December at 7%, with core inflation at 5.5%. After months of referring to spiraling price increases as...
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Rate Hikes ‘Soon’ as Fed Walks Tightrope
January 27th, 2022
A highly scrutinized two-day meeting of the Federal Reserve that concluded Wednesday resulted in no new interest rate hikes, though the central bank appears poised to move forward with an increase in the next few months following persistent inflation and...
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Perilous Challenges Threaten Residential Real Estate
March 21st, 2022
While there is still a considerable amount of uncertainty surrounding the implications of the Russian invasion of Ukraine on the housing market, the picture is getting a bit clearer for experts at Fannie Mae. In a recent report, forecasters from...
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Mortgage Rates Surge to Highest Level in 3 Years
March 24th, 2022
This week, the 30-year fixed-rate mortgage average increased from 4.16% last week to 4.42% this week–the highest level its reached since January of 2019, according to Freddie Mac’s Prime Mortgage Market Survey (PMMS), released Thursday. Mortgage rates across all loan...
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Preparing for Our Market’s Watershed Moment
March 25th, 2022
A watershed moment is defined as “an event marking a unique or important change of course.” The Federal Reserve is tapering and the discount rate is rising, which will continue to put upward pressure on mortgage interest rates, shrinking housing...
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As Expected, Fed Hits Brakes with 50-point Hike
May 4th, 2022
With little surprise, the Federal Reserve announced a larger rate hike Wednesday following their two-day meeting this week, accelerating the central bank’s efforts to curb rampant inflation and pull back from pandemic relief efforts. The 50-basis point increase is the...
