Economic indicators

Stocks have swung wildly on Pulte's comments as he opines on everything from credit score pricing, to cryptocurrencies as mortgage assets, and even the job security of Federal Reserve Chair Jerome Powell.

Fresh US jobs figures took pressure off the Federal Reserve to consider an interest-rate cut later this month, likely leaving the central bank on hold at least until the fall.

Nonbank payrolls rose incrementally during the homebuying season as home-loan borrowing costs trended lower and a housing regulator sought to influence Fed policy.

The Federal Reserve's preferred measure of inflation moved further from its 2% target, underscoring the central bank's reluctance to cut rates.

Consumer spending and exports fell slightly in the latest estimate, leading to a downward revision. Imports, which dragged down overall output during the first three months of the year, also came in smaller.

However, some aspects of the latest employment statistics from the Bureau of Labor Statistics point to gradual weakening in the economy.

While mortgage originations increased, borrowers focused their attention on big-ticket items, as credit account balances flattened overall, Vantagescore said.

Industry payrolls wavered in a tepid buying season in which total employment has been better than expected given government cuts.

Even with 4,000 public sector cuts, total employment numbers were surprisingly high, which raises questions about whether financing costs will keep falling.

The impact of tariff policy on the mortgage-backed securities market is likely to surface first in the cost of new housing construction.

Fannie Mae increased its mortgage volume and home sales predictions, but that comes from cutting its forecasts for U.S. gross domestic product growth in 2025.

The personal consumption expenditures index showed headline inflation flat at 2.5%, but the details of the report explain the Federal Reserve's reluctance to adjust interest rates.

Officials in the Trump administration have floated the idea of changing how the government measures economic growth. Economists say the shift would create new expenses for banks.

With views of current finances among the poorest Americans already near the lowest in 14 years, tariffs are set to add more pressure by making many everyday items even pricier.

The selloff in US equities accelerated Monday, with major averages tumbling to their worst day this year, as investors braced for a slowdown in the American economy.

Independent monetary policymakers have resisted President Trump's call to lower financing costs but could find it harder to ignore employment losses.

Consumers expect prices will climb at an annual rate of 3.5% over the next five to 10 years, according to the final February reading from the University of Michigan.

While mortgage employment is lower year-over-year, the mixed bag of data makes it more likely that borrowing rates will remain higher for longer.

The Federal Reserve's preferred measure of underlying inflation remained muted in December and real incomes were soft, which should support further reductions in interest rates this year.

Inflation-adjusted gross domestic product increased an annualized 2.3% in the fourth quarter after rising 3.1% in the prior three-month period, according to the government's initial estimate published Thursday.