Mortgage rates

The 30-year fixed rate mortgage continues to slip away from the 7% mark, Freddie Mac said, but experts still expect them to stay higher for longer.

Treasury Secretary Scott Bessent said the Trump administration's focus with regard to bringing down borrowing costs is 10-year Treasury yields, rather than the Federal Reserve's benchmark short-term interest rate.

After repeatedly blasting Janet Yellen last year over her department's strategy for issuing federal debt, it's now up to Scott Bessent to make the call on sales of Treasuries, with bond dealers conflicted over what he'll do in a pivotal release due Wednesday.

Mortgage rates declined by one basis point this week, not enough to change the equation to bring consumers back into the housing market, Freddie Mac said.

Mortgage experts were expecting the first FOMC meeting under President Trump would have more significance in the long run than short-term, with some wild cards.

Mortgage experts were expecting the first FOMC meeting under President Trump would have more significance in the long run than short-term, with some wild cards.

Nearly two-thirds of Americans said stubbornly high mortgage rates are keeping them from moving, so they are planning to fix up their homes, Angi found.

With the growth in the use of government products, further increases in late payment rates over the coming year are likely, ICE Mortgage Technology said.

The 30-year fixed rate mortgage fell back under 7% this week, the Freddie Mac survey found. But Treasury yields started rising again in recent days.

Higher mortgage rates will persist through 2026, affecting sales and refinancings. Those expectations led Fannie Mae to cut its volume outlook for the next two years.