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MarketMinute | What's most concerning to home buyers?

Oct 13
4:03
AM
Category | Markets in a Minute

  • According to minutes from last month's Fed meeting, officials see a need for ‘restrictive’ policy and higher rates until inflation eases.
  • Wholesale inflation rose more than expected last month. Consumer inflation met expectations but is still higher than the Fed's goal.
  • Jobless claims remained at historically low levels last week. The job market remains strong in the face of higher interest rates.

Housing News

  • In a Fannie Mae survey, high mortgage rates surpassed home prices as the top reason consumers think it’s a bad time to buy a home.
  • The NAHB, NAR and MBA penned a letter urging the Fed to stop raising policy rates, voicing concerns about the housing market impact.
  • The level of ARM applications increased by 15% last week. ARMs comprised 9.2% of all apps, the highest share since November 2022. 

Market Minute Report - Mortgage News

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