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Bad Inflation Reports Raise Odds of Surprise 0.75-Percentage-Point Rate Rise This Week
Source: The Wall Street Journal --- A string of troubling inflation reports in recent days is likely to lead Federal Reserve officials to consider surprising markets with a larger-than-expected 0.75-percentage-point interest rate increase at their meeting this week....
Homebuyer Budgets Flatten, Posting Slowest Annual Growth Rate in Nearly Two Years
Source: Redfin --- Homebuyer budgets are essentially flat from last year, up just 0.3% year over year nationwide in the three months ending April 30, the slowest growth rate since June 2020. That’s according to an analysis of the average maximum price set by...
Inflation surge puts pressure on mortgage rates
Source: Bankrate --- Inflation jumped to an annual rate of 8.6 percent in May, the U.S. Labor Department said Friday. That’s one of the loftiest levels since the stagflation days of the early 1980s — and the hot reading means mortgage rates are likely to keep rising...
Big landlords jump into the homebuilding business as demand for single-family rentals surges
Source: CNBC --- As demand for single-family rental homes surges, big landlords are jumping into the homebuilding business to shore up falling supplies. The push comes as more Americans have the flexibility to work from anywhere and are looking for larger spaces with...
Prepare yourself: ‘The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006’
Source: Market Watch --- The U.S. housing sector is in the midst of the biggest slowdown in over a decade, one economist says. But don’t expect prices to fall back down to earth just yet. “The U.S. housing market is at the beginning stages of the most significant...
Luxury-Home Sales Sink 18%, the Biggest Decline Since the Start of the Pandemic
Source: Redfin --- he luxury-housing market, which experienced a meteoric surge last year, is coming back down to earth amid a slumping stock market, rising mortgage rates and economic uncertainty. Sales of luxury U.S. homes fell 17.8% year over year during the three...
