Mortgage rates unfazed by crazy economic headlines

10-year yield and mortgage rates

In my 2025 forecast, I anticipated the following ranges:

• Mortgage rates will be between 5.75% and 7.25%
• The 10-year yield will fluctuate between 3.80% and 4.70%

The wild week kicked off last Sunday night when FHFA Chairman Bill Pulte boldly urged Powell to slash rates, declaring that “enough is enough.” Then, Trump announced he wants to take the GSEs public with an implicit guarantee. Later on in the week, President Trump shared my article on the day he met with Fed Chairman Jerome Powell, emphasizing the urgent need for a rate cut to the Fed Chairman.

But that’s not all — Trump faced a setback in court regarding his Godzilla tariffs, only to bounce back and issue a staggering 50% tariff on steel late Friday night. What a…