View All Learning Articles
Is May 2024 a Good Time to Buy a Home?
The 100% HELPER Act Mortgage
The $25,000 Downpayment Toward Equity Cash Grant
The Biden $15,000 First-Time Homebuyer Tax Credit
$10,000 First-Time Home Buyer Mortgage Relief Credit
14 Grants & Programs for First-Time Home Buyers
View All Research Articles
170+ Mortgage Statistics
Generational Home Buyer Statistics
Annual HMDA Home Buyer Study
Most Popular Places for Vacation Homes In Every State
Gen Z Home Buyer Distribution By Location
Younger Millennial Home Buyer Distribution By Location
Older Millennial Home Buyer Distribution By Location
ZIP Code Invasions: Gen Z
ZIP Code Invasions: Younger Millennials
ZIP Code Invasions: Older Millennials
Loan Type | Rate | Points | APR |
Conventional | 6.750% | 1.990 | 6.947% |
FHA | 6.750% | 1.314 | 7.607% |
Weird mix of data hitting the markets this morning and mortgage rates in particular don’t like it. First, the GDP, a measure of how quickly the U.S. economy is growing, posted slower than what Wall Street expected by a lot, actually.
Wall Street forecasted growth in the mid-twos. Instead, it got growth near one-and-a-half. But at the same time, another piece of data hit the wires, and that’s PCE, Personal Consumption Expenditures, the Federal Reserve’s preferred inflation gauge.
It didn’t slow as growth in the economy slowed. PCE sped up, nearly doubling from last quarter’s reading to 3.4% per year, which puts the Federal Reserve in a strange position. They’ve already said they’re going to cut rates.
But when? They do it now, economic growth gets a boost, but with the potential cost of inflation. If they do it later, inflation could retreat, but at the potential cost of growth.
This is why mortgage rates are higher today. Markets are taking a defensive stance ahead of next week’s Fed meeting. Keep an eye on mortgage news and subscribe to our main channel.
I’m Dan with Homebuyer.com Happy homebuying.
Wave goodbye to waiting times and say hello to our Immediate Mortgage Approval. It's more than just a mortgage - it's your ticket to home-buying freedom, available anytime you are. With ultra-low rates at your fingertips, the power to secure your future is just a click away. Why wait for office hours? Your home doesn't.
More Mortgage News
Home Buyers Exhibiting Risky Behaviors – May 03, 2024
Mortgage Rates Drop After Federal Reserve Meeting – May 02, 2024
Probably The Worst Way To Track Home Prices – May 01, 2024
A Federal Reserve FOMC Preview – April 30, 2024
About
Learn
Research