June FOMC meeting: Fed Pauses, but Rate Hikes Are Back on the Table
In short: In Chairman Kevin Warsh’s first meeting, the Committee unanimously left the target rate unchanged, but half of SEP participants expected higher rates by the end of 2026. What’s next for rates? In the Summary of Economic Projections (SEP), half of the 18 participants expected at least one h
Starter Homes That Cost $1M Have Spread to More Than Half of States
The number of cities where a typical starter home is worth $1 million or more has nearly tripled since before the pandemic, rising from 80 in February 2020 to a record 242 today. California still accounts for the most cities with million-dollar starter homes, but New York and New Jersey are driving
Black-White Mortgage Denial Gaps are Widest Where Applicants are Most Financially Stretched
Key findings Black-white mortgage denial rate gaps are higher in lower-income, less-expensive housing markets. A meaningful share of the variation across markets is associated with black-white differences in applicant income and in the share of applicants carrying very high debt burdens. Black appli
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