1302 ET - This week's mortgage rate readout will serve as an important benchmark for the rest of the year, says Realtor.com senior economist Joel Berner. Freddie Mac's rate for a 30-year fixed rate fell 1 basis point to 6.64%. The yield on the 10-year Treasury had been sliding, giving mortgage rates a bit of room to ease. President Trump announced a range of tariffs Wednesday that have sent the markets recoiling, Berner says, and the impact will be seen in mortgage rates reported in the coming weeks. The 10-year Treasury has fallen even further Thursday, with investors exiting the stock market, so it's likely mortgage rates will continue to come down in the coming months as a result. This shock to the system will be felt in the housing market for the rest of the year. (chris.wack@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 13:03 ET (17:03 GMT)
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