Before we begin, congratulations to Spain on winning the 2026 World Cup—and to Argentina on a great tournament!
Markets began the week on a calm note. Stocks were higher, mortgage rates remained steady, and oil prices had eased slightly following reports of a possible pause in global tensions.
Last week had its share of ups and downs, but mortgage rates improved by Friday. Inflation reports were better than expected, helping lower concerns about an immediate Fed rate increase. Other reports showed that consumers continued to spend, and new unemployment claims stayed low.
Housing construction also increased in June, although most of the growth came from apartment buildings.
What This Means
Rates could shift as investors react to oil prices, global news, and new economic reports. For now, the Fed appears likely to remain patient before making its next move.
Looking Ahead
There is less economic news scheduled this week, so employment data and global headlines may have more influence. Friday’s new home sales report will also give us another look at housing demand.
Miguel Terrazas
Mortgage Planner/Planificador Hipotecario // NMLS #227518
