Average US long-term mortgage rate climbs to 6.53%, highest level in nine months - ABC News - Breaking News, Latest News and Videos
Macro
The average 30-year fixed mortgage rate has climbed to 6.53%, the highest level in nine months, with refi demand dropping 18% and spring buyers retreating. Higher-for-longer rates compress housing transaction volumes, pressure mortgage originators, and slow homebuilder order growth heading into the critical spring selling season.
0 reads·0 theses
Angle
↓ SHORT-7% target+4% stop4-6 weeks, through spring selling season data
Short ITB (homebuilder ETF) as 6.53% mortgage rates kill spring-season demand recovery thesis and refi volumes crater 18% — builders and originators both hurt.