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Stock impact report

Jay Powell just made buying a home this spring even more challenging [Yahoo! Finance]

First American Corporation (New) (FAF) 
Last first american corporation (new) earnings: 4/23 06:45 am Check Earnings Report
US:NYSE Investor Relations: investors.firstam.com
Company Research Source: Yahoo! Finance
Instead, rates jumped above 7% after Jerome Powell said inflation was taking longer to come down to the Fed's intended target , a sign that any rate cuts investors were betting on may not arrive soon this year — if at all. Not only do higher rates make it more expensive for buyers to borrow to purchase a home, but they also continue to convince homeowners to delay selling theirs, keeping a lid on inventory growth and spurring price increases. "I had thought in January that 2024 would be a year of less disappointment. Now with mortgage rates remaining elevated, it may be a path of moving sideways," Jonathan Miller, president and CEO of real estate appraisal and consulting firm Miller Samuel Inc. Homebuyers came into the year with some hope. Going into March, the markets were betting the Fed would cut its benchmark rate six times this year, even though the central bank only forecasted three. But after job growth repeatedly topped expectations and inflation surprisingly accelera Show less Read more
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