#USMortgageRatesRiseTo7.49% #USMortgageRatesRiseTo7.49% is official now — MBA confirmed yesterday.
#BTCUSDT $BTC *Breaking:*
30-year fixed conforming rate jumped *19 bps to 7.49%* in week ending Oct 2, highest since Nov 2023. 7th straight week of increase. Daily measure even hit 7.63% on Monday. 6200
$ETH *Why:*
Not Fed directly — mortgage rates track 10-year Treasury, which hit *5.3%+*, a 24-year high. Driver is inflation fears (PCE 3.4% in Aug), oil > $100 after US-Israel strikes on Iran in Feb, plus rates up 1.4 points since then. c1ec
*Impact:*
- Mortgage applications down *4.2% w/w*, 5th week of decline, lowest since Feb 2025
- Purchase apps down 15% YoY, 50% vs 2021
- Refinance down 8% w/w, 56% YoY, lowest since 2025 — nobody wants to give up 3-4% lock to take 7.49%
- Freddie Mac measure also at 7.28% highest since Nov 2023 62005f9224a6
Happening right before Nov 3 midterms — cost of living is top voter issue.
If you want a graphic for this hashtag like the last one, say "make picture" and I'll generate it in Binance-style but for mortgage rates.
#BTCUSDT $BTC *Breaking:*
30-year fixed conforming rate jumped *19 bps to 7.49%* in week ending Oct 2, highest since Nov 2023. 7th straight week of increase. Daily measure even hit 7.63% on Monday. 6200
$ETH *Why:*
Not Fed directly — mortgage rates track 10-year Treasury, which hit *5.3%+*, a 24-year high. Driver is inflation fears (PCE 3.4% in Aug), oil > $100 after US-Israel strikes on Iran in Feb, plus rates up 1.4 points since then. c1ec
*Impact:*
- Mortgage applications down *4.2% w/w*, 5th week of decline, lowest since Feb 2025
- Purchase apps down 15% YoY, 50% vs 2021
- Refinance down 8% w/w, 56% YoY, lowest since 2025 — nobody wants to give up 3-4% lock to take 7.49%
- Freddie Mac measure also at 7.28% highest since Nov 2023 62005f9224a6
Happening right before Nov 3 midterms — cost of living is top voter issue.
If you want a graphic for this hashtag like the last one, say "make picture" and I'll generate it in Binance-style but for mortgage rates.