Mortgage rates steady, but potential volatility ahead due to tariffs
From Yahoo Finance: 2025-04-03 12:07:00
Mortgage rates remained steady despite concerning economic data. The average 30-year rate was 6.64%, while 15-year rates dropped to 5.82%. Borrowers responded with increased purchase applications.
However, the stability may be short-lived as Treasury yields fell after Trump announced tariffs. Even before the announcement, yields were decreasing due to economic slowdown fears.
Recent reports showed manufacturing contraction and a cooling job market. Mortgage applications were mixed, with home purchase applications rising 2% but refinancing applications falling 6%.
Senior Reporter Claire Boston covers housing, mortgages, and home insurance for Yahoo Finance. Stay informed with the Mind Your Money newsletter for the latest personal finance news. Read more financial and business news from Yahoo Finance.