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Mortgage Rates Rise After Four Weeks of Declines, Crypto Markets Remain Unaffected
Mortgage Rates Rise After Four Weeks of Declines, Crypto Markets Remain Unaffected
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BTCCSquare news:
The 30-year mortgage rate climbed to 6.22% this week, ending a four-week streak of declines, according to Freddie Mac. Last week's rate of 6.17% had marked the lowest level since October 2024. Despite two interest rate cuts this year, mortgage rates have stubbornly remained above 6% since February 2023.
Fannie Mae projects the 30-year rate will dip to 5.9% by end-2026, though real estate trade groups anticipate rates averaging at least 6% through next year. The resilient 10-year Treasury yield continues propping up mortgage rates, with the spread between them maintaining its 2-3% range. "For mortgage rates to hit 5.5%, we'd need to see the 10-year yield fall to 3.5%," noted William Raveis Mortgage VP Melissa Cohn.
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