Economy

The 30-year fixed rate mortgage average rose 21 basis points this week, lagging other indicators, which are all now lower than seven days ago.

In a post on his social media platform Thursday morning, the president criticized the Federal Reserve's reluctance to lower rates and said the chair's departure "could not come soon enough."

Federal Reserve Chair Jerome Powell warned that actions that undermine the apparent stability of the U.S. economy could have lasting effects on its status as a global safe haven.

The highly volatile interest rate environment will actually result in higher refinance mortgage volume than previous forecast for 2025 and 2026.

Federal Reserve Board member Christopher Waller said he would not be deterred from classifying inflation as "transitory" despite the board's recent experience underestimating inflationary pressures.

The Consumer Financial Protection Bureau said it will not enforce or supervise nonbank financial firms that miss upcoming compliance deadlines for the nonbank registry of repeat offenders.

Freddie Mac reported a 2 basis point drop in mortgage rates, but other timelier measurements had the 30-year fixed close to or above the 7% mark.

Inflation cooled faster than expected last month, giving the Federal Reserve room to ease monetary policy if the economy weakens suddenly. But tariffs and other policy changes still cloud the outlook for monetary policy.

President Trump placed a 90-day pause on most of his sweeping tariff package, but for banks and other financial market participants, the threat of volatility remains.

Pres. Trump's decision to pause most of the tariffs has sparked a rally in the stock market, but the 10-year yield, while off of its peak, remains higher.