Mortgage Rates Near 6%, Demand Increases For Refinancing, Purchases
Portfolio Pulse from Michael Juliano
Mortgage rates are nearing 6% following a Federal Reserve rate cut, increasing demand for refinancing and home purchases. ETFs holding mortgage stocks, such as iShares Mortgage Real Estate ETF, VanEck Mortgage REIT Income ETF, and iShares MBS ETF, have seen slight increases.
September 19, 2024 | 10:30 pm
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POSITIVE IMPACT
iShares MBS ETF saw a slight increase of 0.06% as mortgage rates fell, indicating a positive impact on mortgage-backed securities.
The decrease in mortgage rates positively affects mortgage-backed securities, leading to a slight increase in MBB.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
VanEck Mortgage REIT Income ETF increased by 0.74% due to falling mortgage rates, which boost demand for refinancing and home purchases.
Falling mortgage rates lead to increased demand for refinancing and purchases, benefiting ETFs like MORT that invest in mortgage-related assets.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
iShares Mortgage Real Estate ETF rose 0.82% as mortgage rates fell, increasing demand for refinancing and purchases.
The decline in mortgage rates increases demand for refinancing and purchases, positively impacting ETFs like REM that hold mortgage-related assets.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80