Mortgage rates

The Trump victory is considered a positive for changing the status of Fannie Mae and Freddie Mac, but what would that do to interest rates?

The post-election spike in the 10-year Treasury yield could translate to higher rates for the 30-year fixed rate mortgage in the short term.

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.

The 30-year fixed rate mortgage is lingering just shy of 6.5% level, which is not low enough to bring home purchasers back into the market, observers said.

Nearly two-thirds of consumers in a July survey said they expect mortgage rates to decline soon, but most want to see them cross a very specific threshold before they act, Mphasis Digital Risk found.

Market turmoil is driving the 10-year Treasury yield downward and taking mortgage rates with it, putting more borrowers in the money to refinance, Intercontinental Exchange said.

But following the gross domestic product and personal consumption expenditures reports, Treasury yields and mortgage rates fell.

The resilience of the equity market has been underpinned by optimism the economy has withstood the worst of Fed tightening.

But economists seem to differ on what the latest movement in mortgage rates means for the summer home sales business.

The decline for the third consecutive week reflects investors' belief that the Federal Open Market Committee is likely to cut rates this year.

Markets appeared to welcome signs of future rate relief, with the latest Freddie Mac average falling for the fifth time in six weeks.