By PATRICK LAVERY Experts and analysts had been predicting it for weeks, so the first shoe to drop Wednesday afternoon was expected: The Federal Open Market Committee voted to cut its key interest rate by another quarter-point, its third consecutive cut after more than a year of inaction, and a resultant reduction of 100 basis…
By PATRICK LAVERY What seemed optimistic 11 months ago, only to devolve into being far-fetched by the middle of the year, is now likely. When the Federal Open Market Committee holds its final two-day meeting of 2024 this week, the dream floated by some officials back in January of cutting the Fed’s key interest rate…
By PATRICK LAVERY Donald Trump’s victorious performance on Election Night that will return him to the presidency in 2025 portends to cast a long shadow over housing affordability, but for now, the Federal Reserve Board is continuing a resumption of rate cuts that began in mid-September by slashing its key interest rate another quarter of…
By PATRICK LAVERY The result will have no immediate bearing on the decision-making process, but the outcome of Tuesday’s United States presidential election – which may still be in question for days afterward – figures to cast a shadow over the Federal Open Market Committee’s next scheduled meeting this week. In fact, because of Election…
By CHUCK GREEN With all due respect to the Hallmark Channel, we’d like to interrupt regularly scheduled Christmas programming to bring you this holiday market update. Before you knock back that second or, okay, third, heavy-handed cup of eggnog, you might want to dive into your holiday stocking. You could score not only the traditional…
Home sale activity is finally rising in some areas of the country as buyers take advantage of a cooling rate period. Pending home sales rose 2% YOY in the four weeks ending October 6, Redfin reported. This is the biggest increase in three years. Early-stage demand indicators are also improving, with tours and other buying…
By PATRICK LAVERY The Federal Open Market Committee on Wednesday voted to make its first cut in the federal funds rate in more than four years, a substantial 50-basis point slash which, as had been predicted earlier in the week, lowers the target range for the key rate from its previous level of 5.25% to…
By KIMBERLEY HAAS After months of anticipation, the Federal Reserve cut interest rates by half a percentage point at its meeting this week. This move is expected to boost consumer confidence and bring potential home sellers and buyers off the sidelines and into the housing market. In a statement, officials said members of the Federal…
By PATRICK LAVERY After more than a year of no movement, there could be big news to come out of the upcoming Federal Open Market Committee meeting this Tuesday and Wednesday – even bigger than anticipated. CME Group’s FedWatch tool, for the first time in numerous recent Fed meeting cycles, is not even holding open…
By ERIN FLYNN JAY As fall approaches real estate professionals are taking a pragmatic approach as they wait for buyers and sellers to gain more confidence. Gary Mintz, a realtor with Berkshire Hathaway HomeServices Fox & Roach in Philadelphia, said business was at best okay for the first half of 2024. “I am ‘hopeful’ that I…
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