Mortgage Watch

Mortgage Watch: Rates keep rising

 

📊 Mortgage Rates Keep Rising!

Mortgage Rates are rising again this morning, and the moves are more about quiet repricing than any single shock. Japan stepped back into the currency markets overnight, supporting the yen and adding another layer of volatility to global rates. Mortgage News Daily notes that yesterday’s intervention didn’t clearly hit Treasuries, but last night’s yen spike did line up with fresh selling in the long end — although the timing actually matched more closely with a jump in oil prices on new Iran headlines.

Energy markets are firm again, feeding the market’s inflation narrative. Higher oil has become one of the most reliable pressure points for long‑term yields this summer, and today is no exception.

This morning’s Employment Cost Index (ECI) added a small but measurable push higher in yields, reminding markets that labor‑cost pressure remains sticky and the Fed’s inflation fight is still very much alive.

By mid‑morning, the 10‑year Treasury is hovering near 4.7%, and agency MBS are down just over an eighth of a point — enough to nudge mortgage pricing slightly higher, but not enough to qualify as a “bad day” given the inputs. Rates are essentially digesting a three‑part cocktail:FX intervention → oil‑driven inflation risk → wage data.

🔎 Bottom Line: Today’s rate movement is global, incremental, and orderly. Markets are repricing risk rather than reacting to a single headline.

 

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SOURCE & AUTHOR | Keith Murphy Branch Manager – Essex Mortgage NMLS #330827 Direct: 714-309-1140 Apply: www.GoTeamMurphy.com

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About the Author
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Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 48 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and sons Matt and Jeff, as they continue to offer personal service with an emphasis on achieving his clients’ real estate goals.  This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 29 years.

As residents of Foothill Ranch since 1994, Tim and Michele are actively involved in the community by fundraising for Foothill Ranch Library, Make-a-Wish Foundation, Cancer Society, Homes for Habitat, Relay for Life, South County Outreach, and the local church and schools. Tim enjoys sponsoring community-wide garage sales, paper shredding and e-waste recycling event, an Easter egg hunt, & a Meet Santa Event.

Tim and Michele are dedicated to their family of four sons, daughter-in-laws, and grandchildren. As a family, they enjoy many outdoor activities which include camping, spearfishing, mountain climbing and exploring the miles of hiking and equestrian trails in Foothill Ranch and the Whiting Ranch Wilderness Park. Tim and his sons are also avid snowboarders and enjoy mountain biking and lobster diving. Family is a top priority in the Morissette household. They look forward to helping more families achieve their dreams of homeownership.