Rate Rollercoaster: Hold Your (Mortgage) Horses!
In today’s episode, Teresa Grobecker breaks down the latest twists in the market. Mortgage rates ticked higher, with the 30-year fixed hovering around 6.6% nationally and spiking closer to 6.9% in California. Commercial borrowers are seeing pressure too, with CMBS and bank loans running near 7%. The bond market is flashing warning signs as the yield curve steepens, and all eyes are on Fed Chair Powell ahead of his Jackson Hole remarks.
Residential real estate continues to slump, with summer sales sinking to their lowest levels in more than a decade—even as prices nudge higher.
But the…
The skinny
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