Persistent inflation suggests the Fed will maintain its wait-and-see approach, delaying rate cuts and hikes. This also postpones mortgage rate relief for real estate, despite a strong labor market. Experts anticipate steady rates through summer.
Fannie Mae adjusts home sales projections downward as high mortgage rates impact buyer demand. While housing inventory shows signs of growth, affordability and low consumer confidence remain significant market barriers.
US job market shows weakness beyond healthcare focus. Manufacturing jobs declined; construction gains were minimal. The Fed faces a dilemma: fighting inflation vs. boosting the economy amidst stable labor data.
