Today's Interest Rate Cut Won't Make Mortgages Affordable Overnight, but It's Still Good News [CNET News]
First American Corporation (New) (FAF)
Last first american corporation (new) earnings: 4/23 06:45 am
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Source: CNET News
Homebuyers have been waiting a long time for the mortgage market to shift . Now, at least, the wait for an interest rate reduction is officially over. During Wednesday's meeting, the Federal Reserve's monetary policy committee slashed the federal funds rate by a half-percentage point, or 0.50%. Since March 2022, the Fed increased interest rates 11 times to tame inflation, which sent mortgage rates off the charts. However, the problems afflicting the housing market will take time to solve. Apart from steep mortgage rates , high home prices and limited inventory have all but barricaded buyers from purchasing (and owners from refinancing or selling). It's even more complicated: The central bank doesn't directly set mortgage rates , even though its policy decisions and economic outlook affect credit markets. When the Fed adjusts its benchmark rate, borrowing rates tend to follow suit, which has a ripple effect on the housing market. Yet mortgage rates also tend to move ahead of w
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News
- Annual House Price Growth Nears Return to Historical Norms Nationally, According to First American Data & Analytics Monthly Home Price Index ReportBusiness Wire
- Dallas-Plano-Irving Home Prices Up 2.3% Year Over Year in August, According to First American Data & Analytics Monthly Home Price Index ReportBusiness Wire
- Houston-The Woodlands-Sugar Land Home Prices Up 2.9% Year Over Year in August, According to First American Data & Analytics Monthly Home Price Index ReportBusiness Wire
- New York-Jersey City-White Plains Home Prices Up 3.2% Year Over Year in August, According to First American Data & Analytics Monthly Home Price Index ReportBusiness Wire
- Los Angeles Long Beach Glendale Home Prices Up 2.3% Year Over Year in August, According to First American Data & Analytics Monthly Home Price Index ReportBusiness Wire
FAF
Earnings
- 7/24/24 - Beat
FAF
Sec Filings
- 9/19/24 - Form S-3ASR
- 9/13/24 - Form 3
- 9/10/24 - Form 8-K
- FAF's page on the SEC website