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The average rate of 30 year mortgage has shot up to 6.41%. That is the highest rate since September of last year and comes after the rate dipped below the 6.00% level to 5.98% during the week of February 23. The spike in rates is following the rise in the 10 year note. The 10 year yield has moved up from 3.926% to the current rate of 4.283% since the start of the Iranian war. Looking at the weekly chart, the yield has moved back above its 100 week moving average at 4.248% (blue line on the chart below). Last week, the price extended back above its 200 week moving average currently at 4.024% (Green line on the chart below)..The 10 year yield is up 0.8 basis points in trading today.US stocks are down on the day but off its session lows.Dow industrial average is trading above and below unchangedS&P index is trading down -21 points or -0.31%NASDAQ index is trading down -160 points or -0.72%Crude oil is trading up $1.22 were 1.27% and $96.95. Gold is trading down $31 or -0.63% at $5045. For the week, gold prices are down -2.438% despite the global tensions. Slver is down $-3.52 or -4.20%.. For the week, silver is down -4.89%.
This article was written by Greg Michalowski at investinglive.com.
💡 DMK Insight
Mortgage rates hitting 6.41% could shake up housing and broader markets significantly. This surge marks the highest level since last September, and it’s crucial for traders to understand the implications. Higher mortgage rates typically dampen housing demand, which can lead to lower home prices and impact related sectors like construction and home improvement. For those trading in real estate stocks or ETFs, this could be a signal to reassess positions. Also, consider how this might ripple into the broader economy—higher borrowing costs can slow consumer spending, affecting everything from retail to tech stocks. Keep an eye on the 6.00% level; if rates stabilize above this, it could signal a longer-term trend that traders need to factor into their strategies. On the flip side, if rates pull back, perhaps due to economic data or Fed signals, there could be a buying opportunity in housing-related assets. Watch for upcoming economic indicators that could influence rate movements, especially any Fed announcements or inflation data. The next few weeks will be critical for gauging market sentiment around these mortgage rates.
📮 Takeaway
Monitor the 6.00% mortgage rate level closely; a sustained rise could impact housing stocks and consumer spending significantly.
