The conflict with Iran pushed oil prices higher, and those costs have rippled through the economy, from gas prices to groceries.

That ongoing pressure on inflation has kept rates elevated longer than many expected. It has also squeezed buyers’ budgets and made many borrowers more hesitant to move forward.

What changed today was the President stating that he would not bomb Iran before the midterms. Uncertainty kills stability. we have some stability.

For now, the 10y Bond is holding it’s own and staying below the 5.30 ceiling. If it punches through, its next stop is 5.43 yield not seen since 2002.

On average, mortgage rates are 2 points higher than the 10y bond yield.

Lots of news out later this week and will keep you posted. ADP, CPI, PPI and other inflation and jobs data.

Have a fantastic week

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