Mortgage rates

Nearly two-thirds were willing to make an offer within three days of viewing a house; 20% stated they would do so on the same day.

But the recent spike has contributed to a noticeable downturn in purchase demand, according to Freddie Mac.

Recent affordability and interest rate trends led to “clear evidence” of discouragement among potential consumers in the purchase market in the first three months of 2022, according to the National Association of Home Builders.

Federal Reserve Chair Jerome Powell outlined his most aggressive approach to taming inflation to date, potentially endorsing two or more half percentage-point interest-rate increases while describing the labor market as overheated.

The unexpectedly swift increase may dampen some of the home-buying demand seen in the past year.

Money markets already betting on an almost half-point Federal Reserve rate hike next month received a wake-up call Monday from St. Louis Fed President James Bullard who said a three-quarter-point increase shouldn’t be ruled out.

Researchers at the government-sponsored enterprise noted the role rising rates are playing in increasing housing costs in its report, now offered publicly for the first time.

The 30-year average has risen by more than a full percentage point in a little over a month.

Ten-year U.S. yields climbed through 2.75% for the first time since March 2019 as investors priced in the impact of the Federal Reserve’s tightening plan and accelerating inflation.

Purchasers concerned over rising costs are jumping into the market now instead of taking a wait-and-see posture.

Further upward pressure is likely this spring, as markets prepare for expected reduction of bond purchases by the Fed.

The 30-year average passed the 4.5% mark for the first time since January 2019 as the labor market tightened and prices rose.

Federal Reserve Governor Christopher Waller said longer-run structural issues will continue to put upward pressure on home prices and rents even as the central bank begins a campaign to raise borrowing costs.

Averages rose sharply across the board, as investors focus on the central bank's response to ongoing economic and geopolitical developments.

It was the highest percentage reached in almost three years.

The increase is the first since 2018 and, combined with reductions in the mortgage and Treasury bond portfolio, it could drive 30-year home loan rates to 4.5% by year-end.

The Federal Open Market Committee is all but certain to raise rates by a quarter percentage point at the conclusion of its two-day policy meeting.

Executives speak on the uncertainty created by the Russia-Ukraine war and Federal Reserve announcements.

The surging volatility in the world’s biggest bond market is challenging traders trying to play both tighter global monetary policy and a war-induced commodity price shock that’s raising the specter of 1970s-style stagflation.

In addition to the Russia-Ukraine conflict, persistent inflationary pressures and expected monetary policy moves are contributing to volatility.