Economic indicators

U.S. economic growth accelerated by more than forecast in the second quarter, illustrating demand is holding up under the weight of higher borrowing costs.

The overall Bureau of Labor Statistics number was a tad higher than expected but other indicators point to economic weakness that could lower mortgage rates.

Cook expects three- and six-month inflation rates to continue to move lower on a "bumpy path," with monthly data similar to the "favorable" readings seen in the second half of 2023 for the rest of the year.

Potentially limiting the Federal Reserve's ability to cut rates is the growing view that the economy's so-called neutral rate — a theoretical level of borrowing costs that neither stimulates nor slows growth — is much higher than policymakers are currently projecting. 

A Fannie Mae survey-high 86% of prospective buyers said it was a bad time to buy a home in May.

A pair of metrics that examine competition in the marketplace went in different directions in March, Zillow found.

Mortgage lenders offered more cash-out refinance programs at a time when consumers might be coming to terms with the rate environment.

The surprisingly strong U.S. economy has driven Treasury yields to the highest since late November as investors dial back bets on interest-rate cuts, wagering that policymakers will be wary of easing policy prematurely.

Logan, whose remarks are closely watched by investors given her prior role managing the central bank's asset portfolio at the New York Fed, said she's increasingly concerned that inflation progress could stall out. 

Fannie Mae's home price sentiment index grew to 72.8 in February, up 2.1 points from the month prior.