Mortgage applications to buy newly built homes have been seeing year-over-year growth since 2023, and in the MBA Builder Applications Survey results for September 2024, purchase applications were up 11% on an annual basis.
Tag: Chart of the Week
MBA Chart of the Week: Target Fed Funds Rate
The FOMC lowered the target Fed Funds rate by 50 basis points at its September meeting and signaled that this is the first cut in a series that is expected to bring the Fed Funds rate down by about 2 percentage points by the end of 2025.
Chart of the Week: Payroll Growth and Unemployment Rate
The August employment report confirmed that the job market is cooling. With a 142,000 job increase in August and downward revisions of the June and July numbers, job growth has slowed to an average of 116,000 jobs over the past three months.