Freddie Mac reported 30-year fixed mortgage rates averaged 5.78% this week, down 15 basis points from the last survey.
In the past two weeks, the rate has plummeted 57 basis points, and since July’s high of 6.63%, rates are down 85 basis points.
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Concerns regarding AI companies' ability to handle inflation drove the 10-year Treasury under 5%, but with data still running hot, could yields turn upward?
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The home equity agreements provider faced a week of the 10-year Treasury almost breaking through 5.35%, and a period of peaking mortgage rates.
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Investors drove long-term Treasury yields down this week on concerns regarding AI-related debt, but inflation and the Iran conflict can push rates higher.
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Persistently high mortgage rates will shrink securitization volume by dampening home sales and pushing more buyers toward all-cash purchases.
Mortgage rates flat this week, but prepare for uncertainty
With how investors are reacting to inflation news and its impact on stocks, it would not take much to move markets in either direction when it comes to rates.