Mortgage rates hit seven-week low as Fed hike threat grows
“The bond market expected the Federal Reserve to leave interest rates unchanged at today’s meeting, but anticipates one or two rate increases in the coming months, possibly beginning in December,” she said.
“Where mortgage rates go next will largely depend on oil prices and the war in Iran.”
What brokers should watch next
Existing-home sales fell to their lowest level since August 2010, the National Association of Realtors (NAR) reported, as affordability pressures continue to sideline buyers.
Fitch Ratings Senior Director Eric Orenstein, in recent comments, reinforced the near-term earnings pressure: “The market expects tighter monetary policy down the line, propping up mortgage rates above 7% for the near term. We expect the smaller origination market in 2027 to limit earnings upside for mortgage companies.”
Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.
