Since President Trumpâs Liberation Day on May 2, mortgage rates and the 10-year yield have fluctuated significantly. Last week, there was a positive trend as rates dipped, with the 10-year yield dropping from 4.43% to 4.24%. Although mortgage spreads remain high, key economic indicators like retail sales and new home sales show resilience. The market remains cautious about potential economic declines and inflation pressures. Staying informed on market reactions to economic data and trade headlines may help navigate future volatility in mortgage rates and yields.
Since 2022, mortgage spreads have been consistently elevated above historical norms, significantly worsening after the Silicon Valley Bank crisis in 2023.
Despite softer economic data, key indicators such as retail sales, durable goods, new home sales, and labor statistics remain steady, suggesting resilience.
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