With sticky inflation and rising bond yields, mortgage rates continue to move higher. The Mortgage Bankers Association, whose readings are often slightly h

Shares of Fannie Mae and Freddie Mac fell Monday after Keefe, Bruyette & Woods analysts downgraded the stocks to Underperform. Here's a look at the latest developments for the mortgage giants:

The 30-year fixed rate mortgage topped 7% for the first time since last May, although late in the week, the 10-year Treasury peaked before reversing course.

MCLEAN, Va., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today posted to its website its Monthly Volume Summary for December 2024, which provides information on Freddie Mac’s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities and other investments.

“Mortgage rates ticked up for the fifth consecutive week and crossed 7% for the first time since May of 2024,” says Sam Khater, Freddie Mac’s chief economist. “The underlying strength of the economy is contributing to this increase in rates."

The average rate on 30-year fixed-rate mortgages surpassed 7 percent for the first time since May, Freddie Mac reported on Thursday, extending a weekslong climb that could push more buyers and sellers to the sidelines.

Inflation likely accelerated in December, putting pressure on the Federal Reserve to keep interest rates relatively high.

Learn how Fed meetings affect mortgage rates and what it means for borrowers. Discover trends, impacts, and expert predictions on mortgage rates.

AM Durable Goods Durable Goods Orders measure the change in the total value of new orders for long-lasting manufactured goods, including transportation items. Durable goods orders are expected to rise 0.

Fannie Mae and Freddie Mac's stock were downgraded to "underperform" by KBW as they are currently priced above its expectations.

Many economists have felt relief over continued GDP growth. But ongoing data releases suggest that the foundation of the economy — consumer spending — isn’t sustainable.

Top Republicans are passing around a 50-page list of ideas on how to cover the cost of a tax cut and immigration crackdown bill.