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Mortgage Rates Drop to Best Levels in 2 Weeks; Construction Spending Down, But Single-Fam Hangs Tough

Mortgage Rates Drop to Best Levels in 2 Weeks; Construction Spending Down, But Single-Fam Hangs Tough

Mortgage rates moved lower today--somewhat significantly relative to recent examples--ultimately hitting the best levels in more than a week for most lenders. Trump's tariff announcement served as a catalyst for market movement in both stocks and bonds (which underlie mortgage rates). Investors currently view the proposed tariffs as something that would do more harm than good for the overall economy. Economic growth generally corresponds with rising rates, so anything that calls it into question can have the opposite effect. It's too early, at the point, to know if the tariff-related news will be a big deal for rates apart from today's headline shock value. What we do know is that rates are officially putting up their best fight so far this year when it comes to pushing back against the dominant
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