The Daily Buzz

ablokhin January’s robust jobs report could lead to the Federal Open Market Committee raising its key interest rate higher than the policymakers had previously expected, Atlanta Fed President Raphael Bostic said Monday. On Friday, the January nonfarm payrolls showed 517K jobs were added to the U.S. economy, more than double the 185K expected, and the

The housing market has borne the brunt of the Federal Reserve’s aggressive interest rates. But mortgage rates are now on the downtrend, with the average 30-year fixed-rate mortgage falling to 6.09% over the past week, according to Freddie Mac. That’s down from a peak of over 7% in November. “Interested buyers are out there,” Odeta

Email Sign Up For Our Free Weekly Newsletter Yet Remodeling Market to Remains Solid This Year According to the National Association of Home Builders, multifamily starts are predicted to fall in 2023, following an unsustainable high level of production last year. Meanwhile, the remodeling sector remains on solid ground and will do better than the

The Federal Reserve raised the target federal funds rate for the eighth time in a row on Wednesday, in its continued effort to tame persistent inflation. At its latest meeting, the central bank approved a more modest 0.25 percentage point increase after recent signs that inflationary pressures have started to cool. “The easing of inflation pressures

istock.com/constantgardener LAS VEGAS — The housing recession that began in 2022 will bleed into 2023 as elevated inflation and mortgage rates, coupled with stubbornly high building material construction costs, continue to take a toll on the housing industry and are expected to push the overall economy into a mild recession this year. However, the second half