Mortgage Rates Just Fell Below 6%, but Not for the Reasons Trump Wants
Business Insider • • business
Key Points:
- The average rate on the 30-year fixed mortgage in the US fell to 5.99%, the lowest since 2022, driven by a decrease in Treasury yields amid renewed investor concerns about the trade war.
- The drop in government bond yields is due to investor fears sparked by President Trump's announcement of a new 15% global tariff after the Supreme Court struck down most of his previous tariffs.
- Investor anxiety over the potential universal tariff and recent tech sector sell-offs has led to a flight to safe-haven assets like gold, which has risen about 4% in the past five days.
- The 10-year Treasury yield has dropped to its lowest level this year, nearing its April 2025 low when Trump's tariffs
