REAL ESTATE JERKY DAILY
Middle East Tensions Hit Markets While Mortgage Pricing Gets Worse
Ed Parcaut and Mike Kelly cover Fed Day, mortgage-rate pressure, falling mortgage applications, cooling rents, Middle East conflict risk, PCE inflation, and Stanislaus County real estate activity. Mortgage pricing worsened by about 21 basis points, the 10-year Treasury moved near 4.64, and mortgage applications declined. Purchase applications fell 4%, while refinance applications dropped 10%. Ed also reviews the Apartment List rent report, with rents down 1.1% year over year and vacancy rates holding around 7.2%. A fast Real Estate Jerky Daily market update with the usual bite.
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