Mortgage Applications Snap 3 Weeks Of Decline As 30-Year Rates Fall By The Most In Over A Year
Mortgage Applications Snap 3 Weeks Of Decline As 30-Year Rates Fall By The Most In Over A Year
The 30-year fixed rate on mortgages averaged 7.61% in the most recent week. That's a decline of 25 basis points from the previous week's average. This marked the steepest weekly fall since July 2022. The mortgage market seems to find the first glimmers of light at the end of a long tunnel.
抵押贷款市场似乎在漫长的隧道尽头找到了第一线曙光。
What Happened: The Mortgage Bankers Association (MBA) announced Wednesday that mortgage applications increased by 2.5% for the week ending Nov. 3, snapping three straight weeks of decreases.
发生了什么：抵押银行家协会（MBA）周三宣布，截至11月3日的一周抵押贷款申请增加了2.5％，打破了连续三周的下降。
A rise in mortgage activity coincided with a substantial drop in U.S. Treasury yields as markets assessed the duration of the Federal Reserve's restrictive stance and buyers' willingness to accept loans with extremely high-interest rates.
抵押贷款活动的增加与美国国债收益率大幅下降同时发生，因为市场评估了美联储限制立场的持续时间以及买家接受极高利率贷款的意愿。
The 30-year fixed rate on mortgages averaged 7.61% in the most recent week. That's a decline of 25 basis points from the previous week's average. This marked the steepest weekly fall since July 2022.
最近一周，30年期抵押贷款固定利率平均为7.61％。这比前一周的平均水平下降了25个基点。这标志着自2022年7月以来的最大单周跌幅。
"Last week's decrease in rates was driven by the U.S. Treasury's issuance update, the Fed striking a dovish tone in the November FOMC statement, and data indicating a slower job market," said Joel Kan, MBA's Vice president and deputy chief economist.
他说：“上周利率下降是由美国财政部最新的发行量推动的，美联储在11月联邦公开市场委员会的声明中表现出鸽派基调，以及数据显示就业市场放缓。” Joel Kan，MBA副总裁兼副首席经济学家。
Real estate stocks, as tracked by the Real Estate Select Sector SPDR Fund (NYSE:XLRE), were up 0.6% on Wednesday as of 10:00 a.m. in New York. They outperformed all other sectors, except for the Technology Select Sector SPDR Fund (NYSE:XLK).
房地产股，如追踪的那样 房地产 选择行业SPDR基金 截至周三上午10点，纽约证券交易所代码：XLRE）上涨0.6％。他们的表现优于所有其他板块，除了 科技精选行业SPDR基金 （纽约证券交易所：XLK）。
Chart: Mortgage Rates Slightly Ease From Peak
图表：抵押贷款利率略低于峰值
Why It Matters: Last week, the U.S. Treasury revealed a drop in its quarterly borrowing forecast to $776 billion. That's down from the prior estimate of $852 billion.
为什么重要：上周，美国财政部透露，其季度借款预测降至7,760亿美元。这比先前估计的8520亿美元有所下降。
The Federal Reserve decided to keep interest rates steady. It also stressed the importance of acting cautiously given that interest rates are now restrictive. Powell also acknowledged progress on inflation. While he didn't lock the door to another rate rise, markets read his words as dovish.
美联储决定保持利率稳定。它还强调了鉴于利率现在受到限制，谨慎行事的重要性。鲍威尔还承认在通货膨胀方面取得了进展。尽管他没有锁上再次加息的大门，但市场认为他的话是鸽派的。
Over the past week, 30-year Treasury rates have fallen from 5.10% to 4.70%. During the same time period, 10-year note yields have declined from 4.94% to 4.55%.
在过去的一周中，30年期美国国债利率从5.10％降至4.70％。在同一时期，10年期国债收益率从4.94％下降至4.55％。
Popular exchange-traded funds that invest in U.S. Treasuries have risen. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) and the US 10-Year Treasury Note ETF (NYSE:UTEN) are up 5.5% and 2.5%, respectively.
投资美国国债的热门交易所交易基金已经上涨。那个 iShares 20 年期以上国债ETF （纳斯达克股票代码：TLT）和 美国10年期美国国债ETF 纽约证券交易所代码：UTEN）分别上涨5.5％和2.5％。
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