Last Week's Mortgage Rate Recap: Rates moved higher 👎
Mortgage rates jumped last week as markets were thrown into turmoil over recently implemented tariffs, even ignoring better than expected inflation data. Not only did rates move drastically day-to-day, lenders often repriced through the day in response to big moves in mortgage backed securities and Treasuries.
This Week's Mortgage Rate Forecast: Rates likely to continue to be volatile ⚠️
Mortgage rates will be tough to predict this week as markets keep reacting to the latest tariff headlines and rumors. After last week’s spike, there’s a chance we see some improvement, but it’s far from guaranteed. In times like these, it’s more important than ever to stay in touch with your mortgage pro.
What's affecting rates this week:
- Tariffs: Any talk of pausing tariffs or implementing new tariffs will likely see mortgage rates shift depending on how markets react to the news.
- The Fed: Markets will be looking for any signs from speaking Fed members that the Fed will step in to help the economy and markets.
- Treasury yields: Although the 10yr Treasury is not the basis for mortgage rates, it does affect pricing for mortgage bonds and when the 10yr Treasury yield rises, mortgage rates often follow.