Mortgage rates

Bill Pulte's social media posts saying inflation has fallen far enough added to intensified political pressure on the independent Federal Reserve chairman.

Seven officials now foresee no rate cuts this year, compared with four in March. Two others pointed to one cut this year.

Despite increased concerns about tariffs and inflation, 55% of Americans feel upbeat about their fiscal future, according to TransUnion.

An elevated inventory of homes for sale and high mortgage rates sapped the motivation to build as permits issued in May fell to a five-year low

The 30-year fixed-rate mortgage remains in the same general vicinity since the post-tariff spike, and significant movement isn't expected soon.

None of the economists surveyed by Wolters Kluwer predict the Fed will cut rates at this week's meeting, few expect one in July and 41% said after September.

A closely watched auction of 30-year Treasuries saw stronger-than-expected demand on Thursday, easing for now worries that investors would shun the US government's longest maturity.

The wholesaler, which provides 2% down payment assistance as part of the program, previously offered it until May 2024, when it was replaced by a 0% down loan.

The 30-year fixed rate mortgage moved one basis point lower this week, remaining in the same range since it spiked in mid-April, Freddie Mac said.

Mortgage applications rose 12.5% from last week, breaking a month-long streak of decline and offering a positive note as summer approaches.