Economy
Economic pessimism mounts across consumer demographics
Consumers report growing frustration with high prices, though stockholders remain more optimistic
Consumers report growing frustration with high prices, though stockholders remain more optimistic
Core PCE climbs 2.9% year over year as Fed officials weigh rate cuts amid strong GDP and policy uncertainty
The Federal Housing Finance Agency move follows similar actions by the Federal Reserve Board and Treasury Department
Homes in roughly 80% of U.S. counties are unaffordable for typical residents by standard housing cost-to-income ratios
Lower mortgage rates and rising incomes boost affordability 1.1% year over year, per the MBA
Mortgage rates hovering in the low-6% range should unlock more options for buyers in mortgage-heavy markets
Despite a monthly dip in sales, economists expect increased activity as mortgage rates ease and inventory grows
Sales incentives and rate-cut optimism lifted builders’ fortunes, though rising competition may slow momentum
Average rates for 5/1 ARMs hovered near 5.5% last week
With just 1 to 5 properties each, these active homebuyers hold 87% of all investor-owned housing stock
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