Fed’s Powell sounds the alarm on potential Trump tariff shock
Federal Reserve chair Jerome Powell said the Trump administration’s tariff war will likely drive inflation higher and slow the US economy but dismissed the prospect of an imminent interest rate cut as those risks grow. The Fed chief described the extent of Trump’s...
The Fed is backed into a corner
Its dual mandate is low unemployment and inflation, two often competing goals. Raising interest rates can slow inflation but increase job losses, while cutting interest rates can increase hiring but risk faster inflation. A potential rock-hard-place moment for the Fed...
Mortgage and refinance rates today, February 24, 2025: Fixed rates decrease
Mortgage interest rates have inched down for the most part. According to Zillow, the 30-year fixed rate has decreased by four basis points to 6.50%, and the 15-year fixed rate is down by four basis points to 5.83%. Rates are inching up and down sporadically, but there...
US inflation picks up pace, lowers chance of Fed cut
US inflation rose in January, strengthening the Federal Reserve’s case to keep interest rates on hold despite President Trump’s fresh demands for rate cuts. The consumer price index posted its biggest increase since August 2023, government data released Wednesday...
HUD’s workforce on the chopping block: Half of the department’s 9,600 employees may be fired.
The U.S Department of Housing and Urban Development (HUD) plans to eliminate up to 50% of its 9,600 employees in the latest round of job cuts for federal agencies. The General Services Administration (GSA) is also facing a possible 50% reduction in its workforce, as...
Consumer Financial Protection Bureau in disarray as work ceases, offices closed, key staff resign
Two leading officials at the Consumer Financial Protection Bureau (CFPB) who were placed on administrative leave this week have resigned as the chaos engulfing the key mortgage regulator continues. Department of Government Efficiency (DOGE) head Elon Musk, who has...
The Fed cut the rate by .5% in September. What now?
Do they continue to cut the rates? Do they pause? It could go either way. The Federal Reserve on Wednesday September 18th enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort...
What Buyers and Sellers should know about the current housing market
Buyers: Home Prices Won't Come Crashing Down Good things may come to those who wait, but patience doesn't always pay off in the housing market. Two-thirds of homebuyers are waiting for mortgage rates to fall this year before buying a home. In the time that homebuyers...
US Initial Jobless Claims Soar to 14-Month High
The number of people claiming unemployment benefits in the US rose by 33,000 from the previous week to 258,000 on the period ending October 5th, significantly exceeding market expectations of 230,000. This marks a new 14- month high and highlights the ongoing trend of...
Housing market reversed course slightly in July 2024
Sales of existing homes broke a four-month slide in July. Prices continued their increase for the 13th straight month with the median national sales figure rising to $422,600. Easing inflation helped accelerate the decline in mortgage rates in mid-July and rates...