Overview
- Freddie Mac reports the 30-year average at 6.22% versus 6.19% a week earlier, with the 15-year at 5.54% versus 5.44%, both still close to recent lows.
- The Fed cut its benchmark rate by 25 basis points on Wednesday, with opposing dissents as inflation sits about one point above the 2% target and labor data softens.
- Treasury yields jumped earlier in the week, then eased after policymakers signaled one more cut in 2026, leaving mortgage rates only modestly higher.
- Refinance applications rose 14% week over week while purchase applications slipped 2%, according to the Mortgage Bankers Association.
- Investors are watching next week’s jobs and inflation releases for cues on the next move in Treasury yields and mortgage borrowing costs.