Yields on the 10-year Treasury, after a brief dip at the start of the week, returned to the upper 4.2% range, even briefly breaking 4.3%, in reaction to inflationary pressures from the Iran conflict. Processing Content In turn, this led mortgage rates to increase by 11 basis points for the second consecutive week, the Freddie […]
Inflation drives mortgage rates to 2026 high point Read More »
Mortgage rates zoomed up 11 basis points this week as the Iran war wreaked havoc on oil prices, putting both the bond and equity markets in turmoil. Processing Content The 30-year fixed-rate mortgage averaged 6.11% on March 12, the Freddie Mac Primary Mortgage Market Survey reported. This compared with last week’s 6% and a year
Iran war pushes mortgage rates near yearly high Read More »
Key insight: The Bureau of Labor Statistics reported that the economy lost 92,000 jobs in February, signaling a cooling labor market. Supporting data: Health care jobs fell by 28,000, while the overall unemployment rate held steady at 4.4%. Forward look: The declining job totals could signal to the Federal Reserve that rate cuts are necessary
Economy loses 92,000 jobs in February Read More »
Mortgage lenders left their desks Friday with the 30-year fixed finally below 6%. When they returned Monday morning, the market was in turmoil, with the benchmark 10-year Treasury at one point up 11 basis points from the previous close. Processing Content As a result, the 30-year fixed rate mortgage moved up 2 basis points this
Oil price shock pushes mortgage rates back above 6% Read More »
Mortgage rates for the 30-year fixed loan finally broke below the 6% mark this past week, Freddie Mac reported, as the spread with the 10-year Treasury got below 200 basis points. Processing Content However, the 15-year fixed rate mortgage rose by a relatively large 9 basis points from the week of Feb. 19. “For the
Mortgage rates dip under 6% for first time since ’22 Read More »
Consumer debt accelerated in December, driven by substantial growth in first mortgage and home equity lines of credit balances, a new industry report showed. Processing Content Total consumer debt in the United States reached $18.2 trillion by the end of last year, with $12.8 trillion attributed to first mortgages, according to Equifax’s fourth quarter consumer
Consumer debt accelerates in December, fueled by mortgages Read More »
Mortgage rates ended the week just above 6%, the lowest point since September 2022, although one other indicator had the 30-year fixed under that level for a couple of days. Processing Content The 30-year fixed rate mortgage fell 8 basis points this week to 6.01% as of Feb. 19, the Freddie Mac Primary Mortgage Market
Mortgage rates settle above 6%, lowest in over three years Read More »
Consumers are reengaging with the mortgage market, signaling a return to normality in 2026, TransUnion said. Processing Content Mortgage originations rose 6.5% year over year to 1.3 million in the third quarter of last year, but at the same time, the percentage of borrowers 60 or more days delinquent increased to 1.51% in the fourth
TransUnion sees mortgage market normalizing Read More »
Key Insight: Federal Reserve Gov. Michael Barr said the economy is currently ‘closest’ to a scenario in which AI gradually raises worker productivity without resulting in sweeping layoffs. Supporting data: Only 17% of firms currently use AI, according to a study cited by Barr. Forward look: Barr says policymakers must prepare for the worst, which
Fed’s Barr outlines AI risks to finance, labor market Read More »
Key insight: The better-than-expected jobs report saw 130,000 jobs added in January, while unemployment dropped to 4.3%. What’s at stake: The Federal Reserve is watching the numbers closely as Chairman Jerome Powell considers the central bank’s dual inflation and employment mandate. Forward look: The strong job numbers reduce the need for the Fed to slash
US adds 130,000 jobs in January; unemployment rate falls Read More »