Mortgage rates

The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.

The bank "temporarily" paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.

Employment came in below estimates, which some economists expect could move the bond market in ways that affect loan costs even before the Fed meets next.

Fannie Mae also foresees more home sales than it did in June, but the Mortgage Bankers Association reduced its origination projections for 2025.

The 30-year fixed mortgage rate rose for the first time in six weeks, driven by Friday's strong jobs report and renewed uncertainty around tariffs.

Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.

Bill Pulte's social media posts saying inflation has fallen far enough added to intensified political pressure on the independent Federal Reserve chairman.

Even with the four basis-point drop, the 30-year fixed rate mortgage remained at levels last seen in February as the Spring homebuying season reaches its climax.

Investors face yet another bumpy start to the trading week, although it's mounting concern over US debt rather than tariffs likely generating the volatility this time.

The increase in purchase mortgage rate lock volume provides support for those looking for a strong Spring market this year, Optimal Blue found.