The early reaction to the Iran conflict, with mortgage rates rising back above 6%, might be tempering an otherwise very positive outlook regarding the spring homebuying season. Processing Content The 10-year Treasury yield, one of the benchmarks used in pricing mortgages, had finally broken through the 4% floor on Feb. 27 to a 3.96% close. […]
Iran conflict’s impact on spring homebuying season Read More »
One of the odd things about Monday’s bond action and oil prices is that I didn’t believe the markets were taking the Iran situation seriously yet, given other data lines. Oil prices rose on Monday, but not to levels that I would consider escalation fears, nor did the 10-year yield, which closed at 4.05%. This
Markets are starting to price in escalation with Iran, but not fully yet Read More »
Early market reactions to the U.S.-Israel-Iran conflict suggest inflation fears, not flight-to-safety buying, are dominating Treasury yields, a dynamic that could put upward pressure on mortgage rates. Processing Content Resolving the conflict swiftly and handling it in such a way that it increases security in the region could have some positive ramifications for housing, but
Middle East conflict stokes inflation, risks higher rates Read More »
Even if he was so-inclined to do so, President Trump might not be able to unilaterally release the government-sponsored enterprises from conservatorship because of the U.S. Supreme Court tariff ruling, a BTIG analyst report postulates. Processing Content Since Feb. 13, with the exception of Feb.18, mortgage rates have been under 6%, reaching 5.9% on Feb.
Tariff ruling could hamstring unilateral release of GSEs Read More »
Spring is right around the corner and mortgage rates are already under 6%, but now we have a new variable: war with Iran. Now the question is whether the conflict in Iran will send rates lower or higher before the seasonal push in housing comes. Last week was already interesting as the 10-year yield closed
Will war with Iran send mortgage rates higher or lower? Read More »
Mortgage rates are at multiyear lows, whether you quote Mortgage News Daily at 5.99% or Freddie Mac weekly data at 5.98%. The drop has come at a good time, as the spring housing market is about to start, with more Americans looking to sell their homes and buy another. First-time homebuyers are looking at the
Mortgage rates fall to multiyear lows in time for spring housing market 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 »
One of the positive housing stories that doesn’t get a lot of attention is the vacancy data we have in the U.S. today, especially the rental vacancy data, which is helping to fight inflation and keep mortgage rates lower. The homeowner vacancy data has improved with the rise in housing inventory, but it also shows
Rental vacancy data shows progress that can keep mortgage rates lower Read More »
President Donald Trump highlighted taxes, inflation and trade in his State of the Union address on Tuesday evening, but he made only a passing reference to housing, leaving affordability largely unaddressed to the chagrin of housing professionals. Housing professionals had expected a larger discussion on mortgage rates, homeownership initiatives and the policies introduced since Trump
Housing leaders say Trump’s plan must go deeper than lower mortgage rates Read More »
Mortgage applications increased 0.4% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Feb. 20. On an unadjusted basis, the index increased 2% compared with the previous week. The seasonally adjusted purchase index decreased 5% from one week earlier. The unadjusted purchase index
Mortgage applications rise slightly as rates move closer to 6% Read More »