Instant Reaction: Federal Reserve Meeting, January 31, 2024

As anticipated, the Federal Reserve did not alter its short-term interest rate today, keeping it at 5.375%. The Fed did, however, indicate the likelihood of several cuts later in the year. The bond market, including mortgage-backed securities, has already lowered the longer-term interest rates in an

Pending Home Sales Climbed 8.3% in December

Key Highlights Pending home sales increased 8.3% in December. Month over month, contract signings grew in the Midwest, South and West but reduced in the Northeast. Compared to one year ago, pending home sales decreased in the Northeast but improved in the Midwest, South and West. " data-src="https:/

Housing Affordability Conditions Improve in November 2023

At the national level, housing affordability rose in November compared to the previous month, according to NAR's Housing Affordability Index. The monthly mortgage payment decreased by 2.7% compared to the prior month, while the median price of single-family homes declined by 1.0%. The monthly mortga