Fed Leaves Key Interest Rate Unchanged

Federal Reserve officials expect inflation to rise but still anticipate two interest rate cuts by the year’s end. Interest rates impact mortgage rates.

Mortgage Rates See Third Weekly Decline

Rates on 30-year mortgages fell to 6.81% from 6.84% last week, while 15-year mortgage rates eased to 5.96% from 5.97%, mortgage buyer Freddie Mac said.

May Housing Starts Dip as Multifamily Slows

Housing starts fell 9.8% in May, driven by a sharp drop in multifamily construction, while single-family starts were mostly flat amid ongoing market pressures.

New Home Purchase Mortgage Apps Down in May

New home purchase mortgage applications fell 4.5% year-over-year in May, with estimated sales down 12.1% from April, the MBA said.