After many months of punditry and prognostication regarding the potential for the Federal Reserve to cut the federal funds rate in 2024, the agency finally did so at its September 17-18 meeting. The Fed lowered the target for the rate by 0.50%, or 50 basis points, to a range of 4.75% to 5.0%. This amount Read more
Mortgage Rates
Raise the Roof: The Housing Market Challenges
Spring home-buying season is here. Amid historically low housing stock, a combination of still-high mortgage rates and home prices continues to put homeownership out of reach for many—especially first-time buyers. Owning a home has many virtues. It creates stability for a family, supports longer-lasting connections in a community, and is a store of wealth for Read more
Bubble or Balloon? A Housing Market Update
In January 2022, the housing market was at the hottest it had been in 15 years, with a run of new demand spurred by the loosening of pandemic restrictions. As remote work opportunities became more common, some buyers were looking for more space to work from home and found opportunities to move farther from their Read more