Mortgage Rates Hit Lowest Point Since February As Investors Anticipate Fed Rate Cuts
Mortgage Rates Hit Lowest Point Since February As Investors Anticipate Fed Rate Cuts
Mortgage rates are on a steady decline as investors have cemented expectations for upcoming reductions in the federal funds rate, yet mortgage demand continues to depict challenges among homebuyers.
隨着投資者對即將到來的聯邦基金利率降低的期望已經確立，房屋貸款利率穩步下降，但房屋買家面臨的貸款需求仍然存在挑戰。
The Mortgage Bankers Association has reported Wednesday that the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) dropped by 5 basis points to 6.62% for the week ending July 19, 2024.
根據抵押銀行家協會週三發佈的報告，截至2024年7月19日結束的一週，30年期符合貸款平衡（貸款額爲$766,550或以下）的房屋貸款的平均合同利率下降了5個點子，至6.62%。
This marks the lowest borrowing cost for home purchases since early February 2024.
這標誌着自2024年2月初以來購房的最低借款成本。
Despite the decline in mortgage rates, long-term Treasury yields remained stable last week. The 30-year Treasury yield has held steady between 4.20% and 4.25% over the past week.
儘管抵押貸款利率下降，但上週長期國債收益率保持穩定。過去一週，30年期國債收益率在4.20%至4.25%之間保持穩定。
Market expectations for a 25 basis point rate cut in September hover at 100%, remaining unchanged from the previous week, according to the CME FedWatch Tool.
根據CME FedWatch Tool的數據顯示，市場對於9月份減息25個點子的預期始終保持在100%，與上週持平。
Bumpy demand for mortgages
房屋抵押貸款的需求起伏不定
Despite the decline in mortgage rates, mortgage demand has shown some setbacks. While the previous week's drop in mortgage rates spurred a sharp rise in new mortgage and refinancing applications, these trends were more subdued last week.
儘管抵押貸款利率下降，但房屋貸款需求表現出一些挫折。 上週抵押貸款利率下降刺激了新的貸款和再融資申請的急劇上升，但這些趨勢在上週變得更加平穩。
Mortgage applications fell by 2.2% week-over-week, while the refinance index edged up by 0.3% to 614.9, hitting the highest level since mid-August 2022.
房屋貸款申請周環比下降2.2%，而再融資指數微漲0.3%，至614.9，達到了2022年8月中旬以來的最高水平。
On Tuesday, the National Association of Realtors reported a significant 5.4% decline in existing home sales for June. This drop is likely due to rising buyer apprehensions as median home prices reach new all-time highs.
美國全國房地產經紀人協會週二報告稱，6月份現有房屋銷售量顯著下降5.4%。這種下降很可能是由於中位數房屋價格達到新的歷史最高點，導致購房者越來越猶豫。
Jeffrey Roach, chief economist for LPL Financial, commented on the situation, stating, "The low supply of homes and high interest rates have depressed affordability to near-term lows. Because of the tight supply of homes available for sale, median prices continue to rise. We should not expect this dynamic to improve until mortgage rates drop and supply increases."
LPL Financial首席經濟學家Jeffrey Roach對此形勢進行了評論，他表示：“住房供應量低和高利率已經使得可負擔性降至近期低點。由於出售的住房供應量不足，中位數房價繼續上漲。在房貸利率下降並增加供應之前，我們不應期望這種情況會有所改善。”
Market Reactions
市場反應
The Vanguard Real Estate ETF (NYSE:VNQ) was flat during the premarket trading session on Wednesday, following a 1% rise on Tuesday.
在週三的盤前交易中，Vanguard Real Estate ETF（NYSE:VNQ）持平，而在週二上漲了1%。
The SPDR Homebuilders ETF (NYSE:XHB) fell 0.5% at the time of this writing, while the VanEck Mortgage REIT Income ETF (NYSE:MORT) rose 0.5%.
在此文寫作時，SPDR Homebuilders ETF（NYSE:XHB）下跌了0.5%，而VanEck Mortgage REIt Income ETF（NYSE:MORT）上漲了0.5%。
The worst performers in the premarket among real estate stocks were:
房地產股市中表現最差的包括：
- Gladstone Land Corporation (NASDAQ:LAND) down 3.96%.
- Compass, Inc. (NYSE:COMP) down 3.96%.
- Service Properties Trust (NASDAQ:SVC) down 3.47%.
- Opendoor Technologies Inc. (NASDAQ:OPEN) down 2.71%.
- Office Properties Income Trust (NASDAQ:OPI) down 1.48%.
- Gladstone Land Corporation（NASDAQ：LAND）下跌3.96%。
- Compass, Inc.（NYSE：COMP）下跌3.96%。
- Service Properties Trust（NASDAQ：SVC）下跌3.47%。
- Opendoor Technologies Inc.（NASDAQ：OPEN）下跌2.71%。
- Office Properties Income Trust（NASDAQ：OPI）下跌1.48%。
- US Home Sales See Sharpest Monthly Decline In 1.5 Years As Record High Prices Keep Buyers On The Sideline
- 美國房屋銷售月度降幅創1.5年新高，創紀錄的高房價令買家望而卻步。
Image created using artificial intelligence via Midjourney.
圖像由Midjourney通過人工智能創建。
譯文內容由第三人軟體翻譯。