US mortgage rates tumbled this week | 18 November 2022

18 November 2022, USD/JPY

USDJPY trading plan:

Mortgage rates in the US faced the biggest weekly decline in nearly 41 years, providing some relief after a rapid run-up that quickly priced out homebuyers. The average rate for a 30-year fixed mortgage was 6.61%, the lowest level in almost two months, Freddie Mac said in a statement. Last week, the average was 7.08%.The results reflect a change in Freddie Mac’s methodology that the company says will provide a broader, more accurate view of the mortgage market. Instead of surveying lenders, it now uses data collected by its automated underwriting system to calculate average rates. Borrowing costs tracked a decline in yields for 10-year Treasuries after the government reported last week that inflation eased in October. Investors are viewing the consumer-price data as a sign that the Federal Reserve may begin to temper its interest-rate hikes in the coming months. Fed Chair Jerome Powell, however, has said it’s premature to consider a pause.

Investment idea: buy 139.35 and take profit 140.12.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus