Fed Chairman Jay Powell’s remarks at the very exclusive Jackson Hole Economic Symposium in August signaled the Fed’s forthcoming action to reduce rates, starting in September. But even before that, in a sign that homebuyers sensed what was coming, sales of new homes rose unexpectedly in July, following significant revisions in the previous month’s data. Sales of newly built, single-family…
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The Home Inventory Issue is Critical
by Pierre G. Villere With the rifle-shot increase in interest rates over the last 18 months, catapulting from near zero for certain commercial credits to well over 6.5 percent for home mortgages, we are experiencing something we have not seen in decades: homeowners are sitting on their hands and staying put in their homes, corralled by 30-year fixed mortgage rates…
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