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JPOW before Congress – March 2023 – Day 1 of 2

The Federal Reserve is considering a half-point hike in interest rates (instead of the previous 0.25% increments), and if faster tightening is required, the Fed is ready to increase the pace of rate hikes. Inflation has slowed down in recent months, but the closely...

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Pending Home Sales up 2.5% in December, Mortgage Rates Down

According to data from the National Association of Realtors (NAR), pending home sales rose 2.5% month over month in December. This marks the first increase since May 2022, following six consecutive months of declines. But what's driving this positive change in the...

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January 2023: The Year Ahead

The Federal Reserve's decision to increase the Federal Funds Rate from nearly 0% at the start of 2022 to 4.5% in December 2022 was made to combat inflation. However, this increase in the Fed Funds Rate resulted in long-term mortgage rates more than doubling, rising...

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Mortgage Demand Increases 28% in Single Week

Mortgage rates are at their lowest point since September, and it's bringing new demand into the market. According to the Mortgage Bankers Association's seasonally adjusted index, mortgage application volume jumped nearly 28% last week compared to the previous week....

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