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GCA Mortgage Forums News | Weekend Edition for Saturday, August 29, 2026
Mortgage rates hold at 6.66% as Fed hike risk rises, new-home sales plunge, foreclosures climb, gold falls, and U.S. households face pressure.
Fed Rate-Hike Warning Jolts Housing as Mortgage Rates Hold at 6.66%, Home Sales Sink, and Gold Plunges
With the last weekend of summer 2026 coming up and financial markets at their peak, more households across the country are starting to worry about a possible market downturn. Recent market signals suggest the economy may be heading toward a recession.
Stock Market Update
The stock market is showing the kind of ups and downs seen before past recessions, even though corporate profits are at record highs and the overall economy still looks strong. There are a few other important things to keep in mind.
Mortgage Rate Update
Last week, mortgage rates reached 6.66%. New single-family home sales fell by 10.9% last month, which is the biggest drop since April 2020. Foreclosures are on the rise, and fewer people are applying for mortgages. The cost of many basic goods and services is still going up quickly. Gold prices dropped last Friday, and oil remains expensive. In cities such as San Francisco, higher property taxes are making it tougher for homeowners.
Wall Street Forecast
Wall Street remains optimistic, but many people are still concerned. Kevin Warsh, the new Federal Reserve chairman, summed up the situation by saying, “Do not assume lower interest rates are coming to rescue the housing market.”
Warsh told the Jackson Hole Economic Policy Symposium on Friday that the Fed must “become confident” that inflation is moving “toward 2%” before interest rates can begin to fall. Until then, he said, “we may have ‘work to do’.”
The markets immediately placed bets on the Fed raising rates during its September meeting. This is the main story in this weekend’s edition of GCA Mortgage Forums News.
- The housing market is feeling the pressure.
- Inflation is still sticking around.
- Many households across the country are feeling anxious.
- Meanwhile, Wall Street’s outlook is still upbeat.
- The Federal Reserve might still raise rates further.
SATURDAY MARKET REALITY CHECK: WALL STREET IS CLOSED, BUT FRIDAY’S NUMBERS ARE STILL TALKING
U.S. stock, Treasury, oil, and precious metals markets are closed today because it is Saturday. This report uses the latest closing prices from Friday, August 28, as well as data released on Friday and Saturday, for market statistics. The market reacted negatively to the Fed but did not crash.
The Dow lost 0.02%, the S&P 500 lost 0.25%, and the Nasdaq Composite lost 0.52%. All three major indexes closed the week higher. This result stands out and shows that market optimism remains strong.
It’s still reasonable to worry about high stock prices, market concentration, rising interest rates, and investors getting too comfortable. No one can say for sure if or when the stock market will crash, and there’s no solid evidence to back up those predictions. Claims of an upcoming crash are still just speculation.
Wall Street is Expensive, Rate-Sensitive, and Still Making Money
The S&P 500 has gained over 12% in 2026 and remains near a record closing level. S&P 500 companies are estimated to have posted a 34.5% increase in second-quarter earnings compared to the same period last year. This is one of the biggest financial puzzles of 2026.
GCA Mortgage Forums News demonstrates a commitment to updating coverage as new data emerges, particularly regarding mortgage rates, Federal Reserve actions, housing data, oil, gold, and stock market developments.
Stocks have strong support from corporate earnings, AI investment, and business spending. However, valuations can be driven down by high inflation, geopolitical tensions, interest rate hikes, and greater earnings uncertainty. Having both good and bad news helps keep the market steady. A strong market doesn’t guarantee that stocks are safe, and it doesn’t mean a crash is about to happen.
FED BOMBSHELL AT JACKSON HOLE: HIGHER RATES ARE BACK ON THE TABLE
Federal Reserve Chair Kevin Warsh, speaking at Jackson Hole, dominated the U.S. financial headlines going into the weekend.
Warsh argued that inflation is still too high and that the 2% inflation target is non-negotiable.
Markets reacted to what he said. Before the speech, traders put the odds of a September rate increase at about 35%. After the speech, market pricing shifted to about 56%, according to Reuters.
The message of Federal Reserve Chairman Kevin Warsh was clear: the Fed needs to see a clear and convincing return to 2% inflation before adjusting the policy. If no such evidence appears, monetary policy had better be tightened.
The Federal Funds Rate Is Already 3.50% to 3.75%
The Federal Reserve left the federal funds target rate at 3.50%-3.75% after its July 28-29 meeting. The decision was not unanimous. Three of the policymakers argued for raising the target by another 0.25%. Following Warsh’s speech, the significance of the quarter-point vote has increased.
The Fed can’t claim inflation is under control while prices remain high. It needs to deal with ongoing inflation and steady business investment. People shouldn’t expect mortgage rates to drop soon.
The Federal Reserve does not determine 30-year mortgage rates. There are a number of factors that together determine mortgage rates, including Treasury yields, inflation expectations, economic conditions, and the level of bond market risk and the demand for mortgage-backed securities. Whether the Fed raises, keeps, or lowers short-term rates, mortgages don’t always move the same way. Ongoing inflation makes it harder to bring mortgage rates down. That’s why homebuyers pay close attention to what the Fed says about inflation.
MORTGAGE RATES STUCK AT 6.66%: THE HOUSING MARKET IS STILL WAITING FOR RELIEF
As of August 27, Freddie Mac reported that the 30-year fixed mortgage rate nationally was 6.66%, compared to 5.98% for the 15-year fixed rate. A week ago, the 30-year fixed mortgage rate was 6.65%, and a year ago, it was 6.56%. Mortgage rates in the mid-6% range haven’t been a big problem in the past. But when you add high home prices, taxes, tough insurance markets, and high living costs to mortgage rates in the 6% range, it becomes much harder for people to afford homes.
Borrowers Are Feeling Every Dollar of the Payment
The Mortgage Bankers Association reported that on Tuesday in July, the median mortgage payment requested by purchase applicants was $2,175, down from $2,191 in June. This drop is a good sign.
The same MBA repHowever, the same MBA report shows mortgage payments have risen compared to rents. The main concern now is not just qualifying for a mortgage but also whether households are willing to take on higher payments. In July, sales declined 10.5 percent compared to June as buyers continued to push back on purchases.
Housing Market Data and Forecast
New single-family home sales were reported at an annualized rate of 607,000 in July, down from 675,000 in June. Estimates from the census put the supply of new homes at a hefty 9.6 months of inventory. The median price for a new home was reported to be $393,800.
Given the wide margins in the Census Bureau’s monthly estimates, a single month’s data should not be used to claim the housing market is collapsing. Still, these new trends are worth watching.
With an inventory of newly constructed homes and payment issues on the buyer side, builders are strongly incentivized to sell homes. The Mortgage Bankers Association also reported that applications to purchase newly constructed homes declined by 5.7 percent from the previous year. MBA attributed lower demand to buyers being sensitive to higher mortgage rates. This remains a major challenge for home builders.
Inventory of Homes | Sales Fall in July
Existing home sales fell 1.7% in July to an annual rate of 4.06 million, according to the National Association of Realtors.
Sales were still 0.7% higher than the year before. The national median existing-home price grew to $434,100, increasing by 2% from the year before, and the inventory of existing homes was 1.54 million, equivalent to a 4.6-month supply. (National Association) These numbers don’t point to a nationwide housing crash. Instead, the market is slow, costs are high, and there are bigger differences between regions.ng fragmentation.
Home Price Volatility
According to Realtor.com, 20% of active listings have had price reductions. The national median listing price fell 2.4%, while active listings increased 2.1%. Price reductions were more prominent in the West and South. Redfin found the same demand problem in slightly more recent weekly data. From the four weeks ending on 16 August, pending sales fell 2.4% from the year before, while new listings increased 5.8%.
Prices Were Still 1.8% Higher: Here’s What These Numbers Say About the 2026 Housing Market:
- An increasing number of sellers are reducing prices, while more buyers are delaying purchases.
- Price declines are evident, but primarily in select markets.
- The recent S&P CoreLogic Case-Shiller National Home Price Index showed that in June, national home prices increased by only 1.5% from the year before.
- National home values dropped because inflation rose faster than home prices.
- The gap between regions is now the widest it’s been.
- Home prices in Chicago are up 6.9% from last year, while prices in New York have increased by 4.8% and in Cleveland by 4.1%.
- Prices in Seattle fell by 2.0%, with Las Vegas prices down 1.9% and Denver prices down 1.2%.
- Examining conditions beyond national averages reveals that sellers in Chicago face different market realities than those in Seattle, Las Vegas, Denver, Austin, Phoenix, and parts of Florida.
- Chicago faces a severe inventory shortage, while other markets have abundant listings and heightened competition.
Mortgage Loan Applications Drop
Mortgage applications dipped again the week ending August 21. According to the Mortgage Bankers Association, mortgage applications dropped by 1% from the prior week. Further, compared with last year, applications for home purchases declined by roughly 5%, and applications for home refinancings dropped by 17%.
MBA reported production profitability in the second quarter for the fifth quarter in a row, and approximately 85% of firms reported overall profits after combining production and servicing.
This doesn’t mean people have stopped buying homes. Mortgage lenders are now working harder to attract the smaller group of buyers who can afford today’s prices and rates. Some lenders are under pressure and may lose money or merge, but overall, the lending industry remains healthy.
The Real Mortgage Story Is a Demand Problem
The mortgage market for everyday buyers is under strain. Homebuyers are very sensitive to changes in rates. For homeowners who have low-rate, older mortgages, refinancing opportunities continue to dwindle. Housing turnover has remained slow. This doesn’t mean the mortgage industry is about to collapse. It’s important to keep reporting accurately.
FORECLOSURES RISE 10% FROM LAST YEAR
Foreclosures are heading in the wrong direction. ATTOM reported 39,906 U.S. properties with foreclosure filings in July, a 1% monthly increase and a 10% annual increase.
- Foreclosure starts rose by 10% year over year.
- Completed foreclosures, or REOs, reached 4,764 properties, up 23% from the prior year.
- These numbers matter, but they need to be seen in context.
- Today’s foreclosure numbers are nothing like what we saw during the Great Financial Crisis.
Serious Mortgage Delinquencies Are Becoming a Bigger Warning
MBA’s second-quarter delinquency report showed an overall mortgage delinquency rate of 4.37%, down slightly from the previous quarter but up 44 basis points from the prior year.
- The foreclosure rate on mortgages increased to 0.67%.
- More concerning, the seriously delinquent rate, which consists of loans that are 90+ days delinquent and/or in foreclosure, increased for the fourth consecutive quarter to 2.06%.
- There was a significant year-over-year increase in the number of serious delinquencies in the FHA.
- This isn’t a sign of a foreclosure crisis.
- However, the data show that more borrowers are having financial trouble.
U.S. ECONOMY SLOWS TO 1.5% GROWTH
According to the second estimate of the Bureau of Economic Analysis released Wednesday, U.S. real gross domestic product (GDP) grew at an annualized rate of 1.5% in the second quarter compared to 2.1% in the first quarter. Consumer spending, exports, and a portion of investment also contributed positively to growth, while government spending slowed down.
- The U.S. isn’t showing the usual GDP pattern you’d see in a recession.
- Growth has slowed down.
- With GDP stuck, housing slowing, and inflation still high, policymakers don’t have much room to make mistakes.
AMERICAN HOUSEHOLDS ARE STILL SPENDING, BUT THERE IS LITTLE MARGIN FOR ERROR
The story isn’t just about Americans running out of money. According to the latest household survey conducted by the Fed, 73% of adults reported being either doing OK or in a good financial state. But beneath that positive statement is a frank financial situation for the majority of the population. 58% of adults noted that price changes had negatively influenced their finances.
- 16% of adults reported not paying all their bills in the prior month.
- 8% of adults stated that their families did not have enough food.
- 26% of adults reported having to forgo medical care due to financial burden.
- Only 63% of adults reported they could fully pay an unexpected $400 bill.
- These numbers don’t mean every U.S. household is in crisis, but they do show that many are financially vulnerable. financially vulnerable.
- Household Debt Approaching $18.8 Trillion.
- Household debt reached $18.77 trillion after the second quarter.
- The amount of mortgage debt was $13.117 trillion.
- The total for credit card debt was $1.263 trillion.
- The total for auto loans was $1.713 trillion.
- Student loans were $1.651 trillion.
The New York Fed indicated that delinquency rates for most of its products remain relatively stable, but the rate for mortgage and auto loans transitioning to early delinquent status was slightly higher. Consumers are experiencing increased financial stress, but that doesn’t mean everything is falling apart. not equate to collapse.
Gold, Silver, and Precious Metals Gets Crushed
Gold prices fell sharply on Friday. Stocks rose sharply on Friday.
- Spot gold fell to about $4,567.23 per ounce, down 3%, after Warsh’s speech raised interest rate expectations.
- December U.S. gold futures ended at $4,529.90 an ounce.
- Silver fell to about $66.81 an ounce.
- Platinum fell to around $1,835.07.
- Palladium bucked the trend and rose to about $1,422.25.:
The Battle Is Now About Rates, the Dollar, and Fear
Gold’s long-term outlook is caught between two strong, opposing forces.
- The ongoing geopolitical risks, the government’s high and rising debt levels, financial imbalances, and renewed inflation concerns will continue to support demand for gold.
- Gold will face a challenge from higher interest rates and a stronger U.S. dollar. Gold does not earn any interest.
- It’s wise to be cautious when predicting where gold prices will go.
- The next major developments will be based on inflation, employment, Treasury yields, the dollar, the Fed, and geopolitics.
OIL BELOW $90 DOESN’T MEAN THE ENERGY CRISIS IS OVER
- Brent crude settled at $89.31 a barrel on Friday, and WTI settled around $83.40.
- Brent lost more than 5% for the week, and WTI lost more than 4%.
- Oil may have pulled back from war-driven highs, but markets remain extremely fragile amid developments in and around Iran and the Strait of Hormuz.
- The Strait handles around one-fifth of the world’s oil flows, and the Strait’s shipping lanes are still disrupted and volatile.
- Oil prices have a direct impact on the mortgage market.
- Oil has a direct impact on transportation.
- Transportation also affects the supply of food and goods.
- When oil prices go up, it affects the budgets of everyday people.
- Energy price increases also directly impact inflation expectations and Treasury yields.
- Treasury yields impact the cost of obtaining a mortgage.
- Events that change oil prices worldwide can directly affect mortgage costs for Americans.
PROPERTY TAX SHOCK: HOMEOWNERS ARE PAYING MORE EVEN AS SOME HOME VALUES SOFTEN
Rising property taxes are making it tougher for many Americans to afford their homes. ATTOM reported that in 2025, total property taxes reached $396.8 billion on 89.6 million single-family homes, up 3.7% from the year before.
- The average property tax bill also increased by 3% to $4,427.
- The national effective property tax rate also increased from 0.86% to 0.90%.
Illinois and New Jersey Still Lead the Pack
Illinois had the highest effective tax rate at 1.84%, followed by New Jersey at 1.58%, Vermont at 1.40%, Connecticut at 1.36%, and Ohio at 1.32%. New Jersey had the highest average annual property tax bill, at $10,499. Following that were Connecticut with $8,901, New Hampshire with $8,174, Massachusetts with $7,904, and New York with $7,732.
Some cities saw even bigger jumps in property taxes. Per ATTOM, tax bills increased 34% in Memphis, 27% in Baltimore, 11% in St. Louis, 10% in Houston, and 8% in Kansas City. For homeowners with escrow accounts, higher property taxes can still raise their mortgage payments, even if their interest rate stays the same.
MARYLAND FACES LARGE OUT-YEAR GAPS
Housing affordability and state and local budgets are closely related, as pressure on government funds can ultimately affect finances, services, and public spending. New York’s state comptroller announced that the enacted budget for fiscal year 2027 is expected to top $277 billion.
Even more concerning for the future, estimated cumulative out-year budget gaps now stand at $31.8 billion. Maryland is going through significant structural pressure, too.
The fiscal analysis anticipates that the structural shortfall for fiscal year 2027 will be approximately $600 million, increasing to approximately $2.58 billion for fiscal year 2028 and to $3.44 billion for fiscal year 2030. These budget gaps are a real worry because bigger deficits often mean higher taxes for everyone.
SATURDAY BREAKING FINANCIAL WATCH: TREASURY WARNS ABOUT GLOBAL CURRENCY INSTABILITY
Recent risk reports highlight another challenge for the financial system. Treasury Secretary Scott Bessent stated that unwinding certain Japanese yen positions forced liquidation, which would disrupt global markets and lead to higher borrowing costs for U.S. households and businesses.ted for the first time to control the yen on July 31, 2022, following a historic weakening of the currency.
Why Does the Japanese Yen Matter to Someone Buying a Home in America?
Because today’s mortgages interact with international capital markets.
- International capital flows affect demand for U.S. Treasuries.
- U.S. Treasury yields affect mortgage-backed securities.
- Mortgage-backed securities affect mortgage rates.
- In the end, what happens in global finance can directly affect families here at home.
WALL STREET CRASH WATCH: WHAT INVESTORS SHOULD ACTUALLY BE WORRIED ABOUT
It’s smart to be cautious right now.
- Stocks are near record levels.
- Expectations concerning growth from applied artificial intelligence are off the charts.
- Profit margins for companies are high.
- Restrictive bond yields remain.
- The Federal Reserve is likely to implement further significant increases due to the threat of inflation.
- Geopolitical risks are high.
- The fiscal stresses of the Federal and state governments are serious.
- There are good reasons to be concerned, but it’s not accurate to say a market crash is certain.
- A market crash arises when investors become excessively complacent.
- This has happened many times before.
A Reputable Financial News Outlet should clearly distinguish between the following:
- Fact: The market is currently overvalued.
- Risk: Valuations, interest rates, concentration, and geopolitics could trigger significant market volatility.
- Prediction: Asserting the market will crash for sure at a specific time.
- GCA Mortgage Forums News will cover the first two points thoroughly but won’t present crash predictions as fact.
WHAT HOMEBUYERS SHOULD WATCH NEXT WEEK
With September now underway, the mortgage market is heading into a key period for new economic data. The main concern is whether the coming employment and inflation data corroborate or contradict Friday’s signal for a rate hike.
Mortgage borrowers should watch yields, along with the Fed.t report; it will certainly pull yields lower. The jobs report, if it meets or exceeds expectations, will result in hotter wage growth, higher oil prices, and other inflation-surprise data, pushing yields up. But none of this is set in stone.
Buyers May Have More Negotiating Power Than the Headlines Suggest
Even if the national housing market is tough, there can still be good opportunities in some local areas. In July, about one-fifth of available homes on the market saw price declines. New home builds are higher than usual. The western and southern markets are seeing some weakness. Builders are starting to give incentives. If a home doesn’t sell, its price may start to drop.
The buyer of a home can always negotiate the purchase price, as well as other costs and terms of the sale.
WHAT SELLERS NEED TO UNDERSTAND BEFORE FALL
Getting multiple offers on overpriced homes, like last year, is mostly over in today’s market. If you price your home like it’s 2022, it probably won’t sell in the 2026 market. Successful sellers understand their competition, recent sales, current inventory, and how sensitive buyers are to payments before the fall season.
Local buyers are in control. What happens in your market depends on them, not national headlines. And one lender’s answer isn’t always the final word.
Mortgage Qualifications Vary from Lender to Lender
Borrowers are sometimes denied because they don’t meet the mortgage program requirements. Others may meet agency or investor requirements and run into a lender’s specific overlay. This can have a significant impact.
Gustan Cho Associates has adjusted its mortgage operations to accommodate complex borrower scenarios, including those who cannot qualify elsewhere.
Getting a second opinion can sometimes help you find another loan option or lender. Every mortgage still depends on the rules of the program, the investor, the lender, and the underwriter.
Benefit of GCA Mortgage Forums over Other Online Message Boards
- GCA MORTGAGE FORUMS NEWS is creating a different kind of real estate news network.
- GCA MORTGAGE FORUMS NEWS focuses on the intersection of mortgages, housing, financial markets, and consumer finances.
- The primary concerns for consumers are mortgage terms, home ownership, payment obligations, and personal finances.
- GCA Mortgage Forums News, as disclosed currently on GCA sites, is a Gustan Cho Associates subsidiary.
- GCA Mortgage Forums News, as an editorial news service, is not an NMLS-licensed mortgage lender.
The mortgage services of Gustan Cho Associates are offered through Coast 2 Coast Mortgage Lending, LLC, NMLS 376205. Current holdings state cover mortgage services for 48 states, excluding New York, as well as Puerto Rico and the U.S. Virgin Islands. Clients must confirm current licenses and program availability for their state before application.
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Mortgage | Housing | Money
- We show you the real numbers behind the headlines in real estate and the economy.
- What are the current mortgage rates?
- As of August 27, per Freddie Mac, the average 30-year fixed mortgage rate is 6.66%, and the 15-year fixed rate is 5.98%.
- Rates vary by borrower depending on loan type, credit, down payment, points, property type and location, owner occupancy, and other factors.
- As of August 29, a Saturday, there is no new Freddie Mac national survey reading.
Are Mortgage Rates Expected to Fall in 2026?
We can’t say for sure, but there’s a chance. Rates could fall if inflation cools and the economy slows, or if yields on Treasury bonds drop. But rates might stay high or rise if inflation isn’t controlled, the Fed maintains a tough stance, oil prices rise, or bond investors seek higher returns. No decision has been made. Financial markets changed the implied probability of a September rate hike to about 50% after Chair Kevin Warsh’s speech at Jackson Hole on August 28, 2026. For now, market probabilities are not Fed commitments.
What is the Latest U.S. Inflation Rate?
The 12-month period ending August 2026 shows a 3.4% increase in consumer prices. Core CPI stood at 2.5%. The Fed’s preferred index, PCE, was 3.7% for the latest period, with core PCE at 3.3%.
What is the Current U.S. Unemployment Rate?
The July unemployment rate was 4.1%. Nonfarm payroll employment declined by 23,000 for the month.
Is the U.S. Housing Market Crashing?
Not on a national level, based on recent data. Housing activity has slowed, new-home sales dropped sharply in July, and some markets have seen prices fall. But national home prices are still higher than a year ago, and the Case-Shiller index rose 1.5%. Local markets can be very different.
Are Home Prices Falling?
Prices are falling in some markets. Seattle, Las Vegas, and Denver saw declines in the most recent Case-Shiller data, while Chicago, New York, and Cleveland saw increases. Nationally, the Case-Shiller index was 1.5% higher than the previous period.
Are There More Foreclosures in the U.S.?
Yes. According to ATTOM, July saw a 10% increase in foreclosure filings, and completed foreclosures rose by 23% over last year. We should not automatically compare current trends to the most extreme examples of the 2008 financial crisis.
Is a Stock Market Crash Imminent?
Probably not. Although there are many potential risk factors (including market valuations, interest rates, etc.), positive corporate earnings do not guarantee a crash. Large investor concentration could also create a strong sell-off in the market.
Why Does the Cost of Oil Affect Mortgage Rates?
Increases in oil costs lead to higher costs for many goods due to the transport and manufacture of these goods. Persistent inflation worries bond investors, prompting them to demand higher yields. This can push the Fed to keep its policy tighter, causing mortgage rates to rise.
Which States Have the Highest Property Taxes?
The highest single-family property taxes are in Illinois, New Jersey, Vermont, Connecticut, and Ohio, according to the most recent analysis by ATTOM, with New Jersey having the highest average annual bill at $10,499. Actual tax bills can vary greatly within the same state.
Why Can My Mortgage Payment Go Up if I Have a Fixed Interest Rate?
The primary and interest rate on a mortgage remains the same, but if either property taxes or homeowners’ insurance premiums increase, the mortgage payment will increase.
Is Buying a Home in 2026 a Bad Idea?
This depends on the person. Some considerations are the stability of your income, available cash on hand, the timeline for which you plan to live in the home, mortgage payments, local prices, taxes, insurance, and the costs of upkeep and maintenance. In the current slow market, some buyers have more negotiating power than in fast-seller markets.
Can I Still Apply for a Mortgage if I’ve Previously Been Denied?
This also depends. Certain denials can be due to certain mortgage programs. Others can be due to a lender’s additional requirements. The reason for your denial should always be known. Being denied by one lender does not guarantee approval by another.
Is GCA Mortgage Forums News NMLS licensed?
No. GCA Mortgage Forums News is purely a news and informational service. Current GCA disclosures state that the news service is a business of Gustan Cho Associates. Mortgage-related services are provided by Coast 2 Coast Mortgage Lending, LLC, NMLS 376205. Consumers are required to check their licensing status at NMLS Consumer Access and with applicable state regulators.
GCA Mortgage Forums News Weekend Edition for August 29, 2026
We follow data available through close of business Saturday, August 29, 2026, for this week’s edition of GCA Mortgage Forums News. Because U.S. financial markets are usually closed on Saturday, market prices are based on the close on Friday, August 28, or on later trades, except as noted.
General news, commentary, and mortgage market information provided in this report do not constitute individualized mortgage advice, legal advice, accounting advice, investment advice, or tax advice.
Primary sources for preparing and checking this report were the Federal Reserve, the U.S. Bureau of Labor Statistics, the U.S. Bureau of Economic Analysis, the Federal Reserve Bank of New York, Freddie Mac, the Mortgage Bankers Association, the U.S. Census Bureau, the National Association of Realtors, S&P Dow Jones Indices, ATTOM, state fiscal agencies, and Reuters.
Economic statistics and preliminary figures are subject to revision. Mortgage rates and market prices may change rapidly.
A mortgage application does not guarantee approval and is subject to the individual lender, investor, agency, underwriting, and legal requirements.
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