'Crisis is real': Analyst warns Trump of looming plight that could doom presidency
1 month ago

'Crisis is real': Analyst warns Trump of looming plight that could doom presidency

Raw Story  

Donald Trump managed to win a second term in large part due to the frustration of the electorate over prices — but there's a big economic crisis looming over the president-elect's head that could end up defeating him, Heather Long wrote for The Washington Post. Trump has boasted that under his presidency, people will be able to get 2 percent APR on a mortgage — but right now it's trending the wrong way, back up to 7 percent, driven in part by bond markets fearful Trump's tariffs will drive up the price of construction materials. Long concluded that Trump's housing agenda could make inflation worse — and swiftly evaporate the benefit of the doubt voters gave him on the economy. "Solving the housing crisis requires lower mortgage rates and building more homes," she wrote.

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Trump may renew a housing fight that could rattle mortgage rates
3 weeks ago

Trump may renew a housing fight that could rattle mortgage rates

CNN  

CNN — During his second term, President-elect Donald Trump is widely expected to privatize Fannie Mae and Freddie Mac, the mortgage giants that guarantee 70% of America’s mortgages. The government’s stake in the two mortgage giants could be valued at billions of dollars, meaning a spinoff would potentially net a big payday for the government and private investors in the …

'Achilles’ heel': Analyst says MAGA voters expect Trump to end a crisis he can't
1 month ago

'Achilles’ heel': Analyst says MAGA voters expect Trump to end a crisis he can't

Raw Story  

President-elect Donald Trump has a pressing problem that voters expect him to fix and his solutions will only exacerbate, a new political analysis contends. Trump's popularity faces imminent peril in the form of a mounting housing crisis that his promised mass deportations, tax cuts and tariff demands will only worsen, Washington Post economics columnist Heather Long argued Wednesday. Trump's election …

RFK Jr. tapped to run HHS. And, the bond market's impact on Trump's economic plans
1 month, 1 week ago

RFK Jr. tapped to run HHS. And, the bond market's impact on Trump's economic plans

NPR  

RFK Jr. tapped to run HHS. Today's top stories President-elect Donald Trump will nominate Robert F. Kennedy Jr., a former independent presidential candidate, to run the Department of Health and Human Services. toggle caption Chip Somodevilla/Getty Images 🎧 "The idea of someone who has actively sowed misinformation about vaccines being in charge of the government's scientific research and public health …

Trump’s economic agenda for his second term is clouding the outlook for mortgage rates
1 month, 1 week ago

Trump’s economic agenda for his second term is clouding the outlook for mortgage rates

Associated Press  

LOS ANGELES — Donald Trump’s election win is clouding the outlook for mortgage rates even before he gets back to the White House. “So, if overall rates are higher, that would tend to also mean that mortgage rates would move higher, too.” Trump says he wants to impose tariffs on foreign goods, lower tax rates and lighten regulations, policies that …

Key gripe Trump aimed at Harris set to get worse with his presidency: experts
1 month, 1 week ago

Key gripe Trump aimed at Harris set to get worse with his presidency: experts

Raw Story  

During his 2024 campaign, Donald Trump blamed Democrats, the Biden Administration and Vice President Kamala Harris for — among many other things — the high cost of housing. "While Kamala Harris promised to build millions of homes, offer financial aid to first-time buyers, and ease regulations on building, Trump suggested that through reducing illegal immigration, he could free millions of …

'Wrong direction': CNN analyst says Trump win is already hitting Americans in the pocket
1 month, 2 weeks ago

'Wrong direction': CNN analyst says Trump win is already hitting Americans in the pocket

Raw Story  

President-elect Donald Trump's imminent ascent to the White House is already making it more difficult for Americans to buy homes, an economic analyst says. Home loan interest rates have seen an steep uptick to a 6.8 percent average for 30-year fixed mortgages as the bonds market prepares for Trump's economic policies, CNN business reporter Matt Egan said Thursday. Those plans …

Mortgage rates are rising. Experts cite economic strength, inflation and possible Trump win
1 month, 3 weeks ago

Mortgage rates are rising. Experts cite economic strength, inflation and possible Trump win

LA Times  

Mortgage rates have been on the rise despite recent action from the Federal Reserve. In September, the Federal Reserve lowered its benchmark interest rate for the first time since 2020, giving hope to prospective home buyers that mortgage rates would follow suit. “They are saying ‘What’s going on?’” The fact that mortgage rates have gone up despite the cut underscores …

Wall Street 'Oracle' reveals the mortgage rate magic number which will get the housing market moving
4 months, 1 week ago

Wall Street 'Oracle' reveals the mortgage rate magic number which will get the housing market moving

Daily Mail  

Mortgage rates have fallen to their lowest level in 15 months - but one expert is warning a bigger drop is needed to kickstart the frozen housing market. Meredith Whitney said that mortgage rates need to hit 6 percent or below in order to kickstart the frozen market The average 30-year fixed-rate mortgage eased to 6.47 percent this week, according …

Biden says he can fix America’s housing affordability crisis. Will it work?
9 months, 2 weeks ago

Biden says he can fix America’s housing affordability crisis. Will it work?

CNN  

Washington CNN — Americans are in the throes of the worst housing affordability crisis in decades. The proposals, Biden argues, would address the two primary factors behind the home affordability crisis: Decades of under-building means there aren’t enough homes on the market, and mortgage rates have surged to multi-decade highs – more than double what they were before Biden took …

From AI and inflation to Elon Musk and Taylor Swift, the business stories that dominated 2023
1 year ago

From AI and inflation to Elon Musk and Taylor Swift, the business stories that dominated 2023

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Their aggressive rate hikes had brought inflation way down from the peaks of 2022, when …

America’s astonishing economic growth goes up another gear
1 year, 3 months ago

America’s astonishing economic growth goes up another gear

Hindustan Times  

The energizer bunny, a pink mechanical hare that keeps banging its drum owing to long-lasting batteries, will celebrate its 35th anniversary this October. Recent data suggest it may even be on track for annualised growth of nearly 6% in the third quarter, a pace it has hit only a few times since 2000. The Federal Reserve’s branch in Atlanta uses …

America’s imminent debt crisis: Much ado about nothing scary
1 year, 10 months ago

America’s imminent debt crisis: Much ado about nothing scary

Live Mint  

The ruckus in the US over the federal debt ceiling has redirected attention toward soaring public borrowing. Against the backdrop of monetary tightening by the US Federal Reserve, piling up more debt reinforces concern about the explosive growth of the government’s interest obligations. Currently, the interest rate on 10-year government bonds is 3.6%, while the CBO’s inflation forecast for that …

US mortgage rates hit 6% for first time since 2008 housing crisis
2 years, 3 months ago

US mortgage rates hit 6% for first time since 2008 housing crisis

Al Jazeera  

Average long-term United States mortgage rates climbed above 6 percent this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market. The long-term average rate has more than doubled since a year ago and is the highest it has been since November 2008, just after the housing …

Five things to know about the next US housing crisis
2 years, 5 months ago

Five things to know about the next US housing crisis

Al Jazeera  

High home prices, scarcity and global uncertainty may be the perfect recipe for a United States housing crisis, economists tell Al Jazeera. “We’re seeing listings stay on the market a little longer than a year ago, even six months ago.” Inflation, a bear market on Wall Street after the S&P 500 dropped 20 percent, free-falling cryptocurrencies, war in Ukraine, and …

Home sales tumble again as mortgage rates surge
2 years, 7 months ago

Home sales tumble again as mortgage rates surge

Associated Press  

Sales of previously occupied U.S. homes slowed for the third consecutive month in April as mortgage rates surged, driving up borrowing costs for would-be buyers as home prices soared to new highs. Existing home sales fell 2.4% last month from March to a seasonally adjusted annual rate of 5.61 million, the National Association of Realtors said Thursday. Fierce competition for …

Opinion: US isn’t heading for another housing crisis
3 years, 4 months ago

Opinion: US isn’t heading for another housing crisis

CNN  

Editor’s Note: Dana Peterson is an executive vice president and chief economist at The Conference Board. Home prices have surged during the pandemic, leaving many to believe we’re either in a housing bubble or heading toward one. Basic supply and demand factors — not speculation, predatory lending and/or bad underwriting — are driving home prices. The brief pop in housing …

Inflation: The housing market is on fire. The Fed keeps adding gasoline
3 years, 6 months ago

Inflation: The housing market is on fire. The Fed keeps adding gasoline

CNN  

New York CNN Business — Bidding wars. And while the Fed is finally “talking about talking about” removing some of its support, some fear the US central bank is creating another housing bubble as it deliberates. “It probably isn’t the case that the Fed should be continuing to artificially hold mortgage rates down.” Danielle DiMartino Booth, a former Fed official, …

Mortgage rates are climbing. Don’t panic
3 years, 9 months ago

Mortgage rates are climbing. Don’t panic

CNN  

This year may have kicked off with the lowest mortgage interest rates in history, but the record lows aren’t going to last. “The poor economic outlook in 2020 brought mortgage rates to record lows,” said Greg McBride, chief financial analyst for Bankrate.com. “Now that the economic skies are looking brighter, mortgage rates are retracing last year’s decline when they fell …

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