The Fed's decision to lower the federal funds rate last week was widely expected by the time the announcement came, with several members of the Federal Open Market Committee publicly voicing their support for a cut. Mortgage rates fell ahead of the meeting in anticipation of the Fed's move, but now rates are reflecting conflicting ideas about what central bankers might do in December.
By my assessment, the labor market is largely in balance, the economy shows continued momentum, and inflation remains too high, the statement read in part. I view the stance of policy as only modestly restrictive. In this context, I judged it appropriate to maintain the policy rate at this week's meeting. The federal funds rate is currently at a range of 3.75% to 4%, its lowest level in three years.
We've built a mortgage experience that's simple, digital, and transparent and collaborating with Robinhood shows what's possible when technology meets accessibility. Our goal is to help more people turn financial progress into homeownership, one of life's most meaningful milestones. In an interview with HousingWire ahead of the announcement, Malloy said that the offer was first piloted over the summer to a small group of Robinhood
While there are reports from Redfin and other sources detailing high home purchase cancellation rates in 2025. Multiple reports released in the latter half of 2025 indicated that cancellation rates had reached significant levels in the preceding months, with Redfin reporting a 15% cancellation rate in September 2025. 2025 cancellation rates based on Redfin data September 2025: 15% of home-purchase agreements were canceled. July 2025: 15.3% of home-purchase agreements were canceled. June 2025: Nearly 15% of pending home sales fell through.
As anticipated, falling mortgage rates are lifting home sales, Lawrence Yun, NAR's chief economist, said in a statement. Improving housing affordability is also contributing to the increase in sales. The inventory of unsold existing homes also rose in September, jumping 1.3% on a monthly basis and 14.0% on a yearly basis to 1.55 million units. This represents a 4.6 month supply of unsold inventory at the current sales pace, the same as a month prior, but up from 4.2 months in September 2024.
The idea relies on amending the Preferred Stock Purchase Agreements (PSPA) to enable the GSEs to purchase up to $300 billion of their own MBS and Ginnie Mae MBS when the spread between the 30-year mortgage rate and the 10-year Treasury exceeds 170 basis points The proposal was outlined in a letter sent by the Community Home Lenders of America (CHLA) and the Independent Community Bankers of America (ICBA) to the Treasury Secretary Scott Bessent and the Federal Housing Finance Agency (FHFA) Director Bill Pulte.
One scenario is that growth continues more or less as it has for the last 20 years. If so, the current federal fiscal trajectory is unsustainable,
Since surging in 2020, home prices in the United States have continued to trend upward through 2025. The median list price for a single family home in the U.S. hit a 2025 high of $440,950 in June. While list prices have fallen since, at $425,000 in September, they are still nearly $25,000 higher than they were at the start of the year, according to data from Realtor.com.
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The Federal Reserve's decision this month to cut its benchmark interest rate by 25 basis points was encouraging news for Americans eager to become homeowners. Although mortgage rates aren't set by the Fed, they are impacted by its policy changes. Indeed, prior to and in anticipation of the Fed's announcement, mortgage rates fell to their lowest level since October 2024, with the 30-year fixed rate dropping to 6.39% spurring a 29% spike in mortgage loan applications.
The two government sponsored enterprises buy loans from mortgage lenders to ensure liquidity in the market and repackage those into investment products. They also set the standards for creditworthiness and ability to repay for mortgage loans. While they offer several construction products, those support lenders and homebuyers, not builders. HousingWire Lead Analyst Logan Mohtashami has written extensively on what could trigger more homebuilding and weighed in on Trump's statement.
Sales closed at a greater clip than listings hit the market, marking the third consecutive quarter where transactions outpaced inventory. It's not blazing, but the market is slowly getting faster, said report author Jonathan Miller. Buyers and sellers notched 3,100 deals in the third quarter, marking a 13 percent uptick from the same period last year. During the same time frame, the number of active listings rose 7 percent from roughly 7,200 to 7,700.
Dave Ramsey advises potential homebuyers to prioritize financial readiness over chasing lower mortgage rates, highlighting the significance of factors like debt, emergency funds, and down payments. Experts like Brian Shahwan and Kirsten Jordan support Ramsey's view that the current market presents opportunities for homebuyers, with expectations that mortgage rates may align with the Fed's trajectory. Contrary to the optimism, real estate agent Eli Harris cautions about overlooking the practical challenges, such as high living costs, potential additional expenses beyond mortgage rates, and limitations on refinancing eligibility.
From today, the mortgage rate will decrease by 0.15pc to 0.2pc on a number of products that are fixed for periods of between two and seven years. The rate decreases will apply to mortgages where the Loan to Value ratio is between 80pc and 90pc, including 'green' mortgages and so-called 'high-value' mortgages. PTSB said the new rates for the 2-year, 3-year, 5-year and 7-year fixed terms in this band - which range from 3.7pc to 4.4pc - are available to both new and existing customers.
