With all the Fed drama last week, the 10-year yield declined and mortgage rates fell to 6.72{818fad1a203573e0d5c96484ee3a56bfd0db6dff785dd26904a2a3b9512025e2}. This small move helped stabilize the market.
It’s been a strange season for the housing market, caught somewhere between post-pandemic exhaustion and pre-election caution. And yet, in the quiet shuffles of financial markets and whispered policy pivots in Washington, signs are emerging that something may be stirring beneath the surface.
Scott Turner, the secretary of the U.S. Department of Housing and Urban Development (HUD), which oversees the FHA, said in a statement that the rescissions are \"bold, necessary and long overdue.\"