As rates on conventional mortgages head back above 7%, homebuyer demand for purchase loans is wilting, with applications dropping for a 3rd week in a row last week, MBA survey finds
The Fed chair acknowledged that elevated term premiums — higher rates of return bond investors are demanding to compensate them for risk — could reduce the need for further rate hikes
Dovish remarks from Fed policymakers help ease fears of more rate hikes, bringing yields on benchmark 10-year Treasury notes back down to where they were at the beginning of October