Mortgage rates

Yields on both 10-year and 2-year Treasurys moved significantly higher after the Trump election victory and that's bad news for mortgage rates going forward.

A strong economy drove mortgage rates higher in the past week but it's still an advantageous market for consumers in some ways, according to Freddie Mac.

The Fed's short-term rate cut hasn't lowered 30-year mortgage rates, which have been flat, but some buyers had reasons to act sooner rather than later.

Quantitative tightening has helped to keep mortgage rates elevated, but new concerns over how it impacts market liquidity could lead the Fed to end the program.

The conforming 30-year fixed rate mortgage rose to 6.12% on Oct. 3.

Mortgage rates being at a two-year low has not moved potential buyers off the sidelines, Freddie Mac says, but Redfin says demand for home tours is up.

Short-term rate cuts often don't immediately translate to lower financing costs for 30-year home loans, and there are some unique circumstances this time.

The 30-year fixed rate mortgage fell week-to-week by the largest amount since the start of August and are now almost a percentage point lower than a year ago, according to Freddie Mac.

Recent rate movements have failed to result in significant purchase growth, but refinances are providing lenders some lift.

About 85% of U.S. homeowners have interest rates below 6%, while a little over 50% of homeowners have a rate below 4%, Redfin's report said.