
MarketMinute | Discover Signs Of Housing Market Recovery
Consumer confidence hit a 2-year high in July, as inflationary pressures eased and the economy continued to show resilience. The Fed raised its policy rate this week to a 22-year high, as expected. Fed actions do not directly impact mortgage rates. The economy picked up unexpectedly in the 2nd quarter, steering clear of a recession despite Fed rate hikes. The FHFA reported a 2.8% year-over-year home price increase in May. This was the 4th straight month of gains despite a jump in mortgage...
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