by | Feb 4, 2025 | Economy, Industry News, Latest News, Lead Story, National, News, Politics, Premier |
When the Federal Reserve raises or lowers its benchmark interest rate, many people expect mortgage rates to follow suit. But the relationship isn’t that straightforward. The federal funds rate—the rate banks charge each other for overnight loans—has an indirect...
by | Feb 4, 2025 | Economy, Industry News, Latest News, National, News, Politics, Premier |
On Sat., Feb. 1, President Donald Trump imposed previously promised tariffs, implementing a 25% tax on imported goods from Mexico and most from Canada (energy related goods are only 10%) and an additional 10% tax on imported goods from China. Tariffs could impact the...
by | Jan 31, 2025 | Economy, Industry News, Latest News, Lead Story, National, News, Premier |
At the New England CEO Summit today, Federal Reserve Governor Michelle W. Bowman warned against cutting rates too often, and advocated against overregulation for community banks. For the housing sector, Bowman’s reluctance to lower rates may prolong higher mortgage...
by | Jan 31, 2025 | Economy, Industry News, Latest News, National, News, Premier |
The Federal Reserve declined to cut interest rates any further at its latest meeting—and the Fed’s preferred inflation metric now shows that the goal of 2% annual inflation remains elusive. In the latest monthly Personal Consumption Expenditures (PCE) report compiled...
by | Jan 28, 2025 | Consumer, Economy, Industry News, Latest News, National, News, Premier |
Consumer confidence continued to slide down in January, according to data from The Conference Board, however, experts feel the downtrend is not outside of the range it’s been in the past few years. “Consumer confidence has been moving sideways in a relatively stable,...
by | Jan 23, 2025 | Economy, Industry News, Latest News, National, News, Premier |
In a slight reversal of the past month’s trends, the average 30-year mortgage rate decreased from its average last week of 7.04% down to 6.96% this week, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac, released Thursday. “After...