July 24th, 2026 4:06 PM by T. Fanning
Hope you had a great week! Here's a quick look at what happened in the mortgage market over the past week, along with the latest economic news that could impact interest rates and home financing.
Rising tensions in the Middle East pushed oil prices higher this week, adding to inflation concerns. Mortgage rates ended the week near their highest levels in about a year. Home sales dipped slightly in June but remained above last year, while home prices reached another record high. Housing inventory is still limited, and builders continue to face challenges with high costs and affordability. The job market remains strong, with new unemployment claims falling to their lowest level in decades. Overall, inflation concerns remain, and these factors could keep interest rates higher for longer.
Looking ahead, markets will be watching developments in the Middle East and any progress toward easing tensions. The Fed meets Wednesday, and while no rate change is expected, investors will be paying close attention to its comments for hints about future decisions. Key economic reports this week include Consumer Confidence on Tuesday, followed by second-quarter GDP and the Fed’s preferred inflation measure, the PCE price index, on Thursday.
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