Our updated forecast includes an expectation of a modest recession in the latter half of 2023 as we see a contraction in economic activity as the most likely path to meet the Federal Reserve’s inflation objective given the current rate of wage growth and inflation.
Newsfeed: Inflation Rate Signals Tighter Monetary Policy and Threatens ‘Soft Landing’ Read More »
Almost one year ago, Redfin CEO Glenn Kelman spoke with Bloomberg Radio about the state of the US housing market, and said that the ongoing surge in home prices could subside.
Starting March of 2021, the National Association of Realtors (NAR) made Housing Affordability Data available to the St. Louis Fed.
Newsfeed: Housing Affordability Declines Nearly 23 Percent In Less Than a Year Read More »
Federal Reserve Chair Jerome Powell abandoned his “transitory” inflation narrative months ago and has since steered the central bank toward its tried-and-true playbook for taming inflation: Raise interest rates until demand recedes and soaring price growth abates.
The National Association of Realtors (NAR) estimates millions of Americans have been priced out of the housing market since January as sky-rocketing mortgage rates spark an affordability crisis.
After last year’s frenzy for vacation homes, buyers are now backing off amid rising mortgage rates and an increase in loan fees for second homes.
Newsfeed: The Pandemic-Driven Second-Home Boom Is Coming to an End Read More »
Over the last several weeks, readers have become aware of an emerging housing affordability crisis as US mortgage rates continued their near-vertical ascent, risks jeopardizing the housing market boom.
Newsfeed: Cracks Appear In Housing Market As Sellers Begin To Lower Asking Prices Read More »
Wall Street is buzzing over the shift in Federal Reserve policy—the era of loose, rock-bottom interest rates is out. In are a series of rate hikes as the central bank tries to put the clamps on spending and cool off inflation.
30 Year fixed mortgage rates have jumped 160bp this year, reaching the highest since November 2018, with the latest Freddie Mac data showing an acceleration in mortgage rates which jumped a quarter point in just the past week, from 4.42% to 4.67%.
Newsfeed: Biggest Housing Affordability Shock In History Incoming Read More »
Federal Reserve Governor Christopher Waller said longer-run structural issues will continue to put upward pressure on home prices and rents even as the central bank begins a campaign to raise borrowing costs.
Newsfeed: Inflation measures risk understating housing costs, Fed governor says Read More »