MBA 30-Year Mortgage Rate 7.9%
Portfolio Pulse from Benzinga Newsdesk
The Mortgage Bankers Association (MBA) has reported a 30-year mortgage rate of 7.9%.
October 25, 2023 | 11:00 am
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The reported 30-year mortgage rate of 7.9% by MBA may impact the SPY ETF, as it reflects the overall performance of the US stock market, which can be influenced by mortgage rates.
Higher mortgage rates can lead to decreased home buying activity, which can negatively impact the economy and, in turn, the overall stock market. As SPY is a broad market ETF, it may be affected by these macroeconomic changes.
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