Mortgage Rates Hit Another Multi-Month High Despite Afternoon Recovery

Mortgage rates tend to be updated only once per day.  Lenders set rates based on trading levels in mortgage-backed securities (MBS) which are essentially bonds that are tied to cash flows from groups of mortgages.  MBS move throughout the day much the same way that US Treasuries do. 

Hurricane Milton, Helene Costs Top $4.3B

As recovery continues, more than 26,000 people have checked into FEMA-supported housing and more than 2,700 blue tarps have been installed on roofs.

U.S. Consumers Feeling Much More Confident

October’s increase in confidence was broad-based across all age groups and most income groups, The Conference Board said. Analysts forecasted a more modest reading.

FHFA House Price Index Up 0.3% in August

Housing prices increased 4.2% from last year nationwide, the Federal Housing Finance Agency said. Price appreciation remained modest for the 6th month.