Most Americans would probably like to see lower mortgage rates these days. And while the president certainly has a lot of power, even he can’t snap his fingers and make mortgages cheaper for today’s borrowers. What can the president do about mortgage rates, though? Here’s how who’s in office could impact what you pay for a mortgage loan. Read more: The best mortgage lenders for first-time home buyers Does the president control mortgage rates? The president of the United States doesn’t directly control ...

Core Viewpoint - The significant drop in mortgage rates is driven by market expectations of an interest rate cut by the Federal Reserve, with the average rate for a 30-year fixed mortgage falling to 6.13%, the lowest since the end of 2022 [1] Group 1: Mortgage Rates - The average rate for a 30-year fixed mortgage decreased by 12 basis points from the previous day, reaching 6.13% [1] - This decline in mortgage rates is reminiscent of the situation in September 2024, where similar expectations led to a rise in rates after the Fed's announcement [1] Group 2: Federal Reserve Expectations - The market anticipates at least a 25 basis point cut from the Federal Reserve, with a potential additional cut of 25 basis points thereafter [1] - Historical patterns indicate that rate cuts during non-recession periods have limited impact on long-term interest rates [1] Group 3: Investor Behavior - Investors are likely to engage in buying ahead of expected rate cuts, with a tendency to sell once profits are realized [1] - Following a 25 basis point cut by the Fed, a slight decrease in the 10-year Treasury yield is expected, which typically correlates with mortgage rate trends [1]

Core Insights - The Federal Reserve's June meeting minutes indicate that respondents believe the fiscal outlook is the primary factor influencing the 10-year Treasury yield forecast for the next two years [1] Group 1 - The survey conducted by the Fed's Desk revealed that the fiscal outlook was the most frequently mentioned factor by respondents regarding the future of the 10-year Treasury yield [1]

Core Viewpoint - The increase in U.S. Treasury borrowing is driving up interest rates, particularly at the longer end of the yield curve, which raises borrowing costs for the government and exacerbates the fiscal deficit [1] Group 1: Economic Impact - The rising borrowing costs are increasing the risk of a broader rise in lending costs across the economic system [1] - Despite these challenges, the U.S. economy is showing strong signs of resilience, which was somewhat unexpected [1] Group 2: Market Focus - Goldman Sachs' clients are more concerned with the 10-year Treasury yield than the federal funds rate [1] - The acknowledgment of the current economic resilience is significant, indicating a potential for continued economic strength [1]

印度国债收复稍早失地，10年期国债收益率转为下行2个基点至6.34%。 印度股指NSE Nifty指数收复稍早0.7%的跌幅。 ...