MarketMinute | Why Will It Be Harder To Get Homeowners Insurance? - Greenway Mortgage Blog

Blog

MarketMinute | Why Will It Be Harder To Get Homeowners Insurance?

Aug 11

5:31

AM

Category | Markets in a Minute

June's Consumer Price Index shows inflation rose only 3.2% from a year ago, possibly deterring the Fed from raising policy rates in September.

Jobless claims rose last week to the highest levels in a month, coming in higher than expected and signaling some softening to the labor market.

Many experts are backing off their predictions of a looming recession, with the latest economic data pointing to a possible soft landing.

Housing News

Available home insurance policies have dropped 53% this year. Companies are exiting states where they can't raise premiums to cover rising costs.

According to Fannie Mae, consumers are gaining confidence in their personal financial situations but are still pessimistic about buying a home.

Mortgage rates rose last week before falling again, leading to a 3% drop in purchase apps. It was the 3rd consecutive weekly decline.