Institution: U.S. mortgage rates are expected to remain around 7% in the fourth quarter
On October 20 (UTC+8), Jeff DerGurahian, an analyst at loanDepot, stated in a report that due to the combined impact of rising oil prices and weak stock markets, U.S. mortgage rates for the fourth quarter are likely to remain around 7%. The economist noted that the ongoing weakness in the stock market—particularly the downturn in tech stocks—is drawing buyers back into the bond market. However, he also said that high oil prices are intensifying inflation concerns, which could force the Federal Reserve to raise interest rates at least once this year. DerGurahian stated that interest rates will remain at current levels until one side gains the upper hand. (Source: Jinshi)
Rising oil prices and weak equity markets keep U.S. mortgage rates near 7%, reinforcing the view that rates will stay high and inflation concerns persist; this could push the Fed to hike again, keeping liquidity tight and pressuring risk assets, so crypto is short-term bearish (medium).