✎ Contributed by Ty Griffin
Mortgage rates ticked slightly downward today as President Donald Trump hinted at future tariff relief on Chinese imports, a move investors interpreted as potentially cooling inflation. The announcement sent a ripple through interest-rate sensitive sectors, including real estate and mortgage lending, as market participants factored in a slightly more dovish macroeconomic outlook.
The average rate for a 30-year fixed mortgage now stands at 6.90%, a slight decline of 0.01% from the previous week. Meanwhile, the average 15-year fixed rate decreased to 6.13%, a week-over-week drop of 0.03%, according to data from CNET.
Performance of Public Mortgage Lenders
- Rocket Companies Inc. (NYSE: RKT): Trading at $12.20, down $0.14 (1.13%) today.
- PennyMac Financial Services Inc. (NYSE: PFSI): Trading at $96.10, down $0.30 (0.31%) today.
- Walker & Dunlop Inc. (NYSE: WD): Trading at $75.40, up $0.92 (1.24%) today.
- loanDepot Inc. (NYSE: LDI): Trading at $1.11, down $0.015 (1.33%) today.
- Greystone Housing Impact Investors LP (NYSE: GHI): Trading at $11.71, up $0.025 (0.22%) today.
- Blackstone Mortgage Trust Inc. (NYSE: BXMT): Trading at $18.90, up $0.14 (0.72%) today.
Industry Impact
While the rate drops are small, they mark a reversal from the recent uptick in borrowing costs that had weighed heavily on mortgage application volume and home affordability. With President Trump hinting at easing tariffs on Chinese imports, investors are reassessing expectations for future inflation — a key driver of interest rates.
The impact was mixed across public mortgage lenders. Rocket Companies, the largest U.S. mortgage originator, dipped despite the rate drop, reflecting investor caution over future refinancing demand. Smaller lenders like Walker & Dunlop posted gains on hopes that even a modest decline in rates could rejuvenate transaction volumes and improve profit margins.
loanDepot and PennyMac, heavily tied to the refinance market, saw mild declines, possibly reflecting broader uncertainty around sustained rate relief. Analysts note that while the shift is encouraging, it’s too early to call it a trend — future Fed commentary and labor data will continue to dictate rate trajectories through Q2.
Conclusion
The housing and mortgage markets are watching closely as political and economic signals hint at changing inflation dynamics. Today’s slight rate improvement may not be a game-changer on its own, but it could represent the beginning of a more borrower-friendly lending environment — especially if President Trump’s tariff talk leads to real policy changes. Public lenders remain in focus as homebuyers look for any sign of easing pressure in one of the tightest lending environments in years.
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