Mortgage rates stayed nearly flat again last week. Tariff fallout could make them more volatile going forward.

Mortgage rates stayed fundamentally level again past week, contempt dreary economical information connected occupation openings and the wellness of the manufacturing assemblage renewed investors’ fears astir a recession.

The mean 30-year owe complaint was 6.64% done Wednesday, fundamentally unchanged from 6.65% a week earlier, according to Freddie Mac data. Fifteen-year owe rates dropped to 5.82%, from 5.89%.

Sam Khater, Freddie Mac’s main economist, said successful a connection that the caller complaint stableness "is reassuring, and borrowers person responded with acquisition exertion request rising to the highest maturation complaint since precocious past year."

But that stableness mightiness not past overmuch longer. This week’s mean covers a play mostly earlier President Trump announced sweeping tariffs connected US trading partners, sparking a heavy banal marketplace sell-off Thursday and flight-to-safety commercialized into Treasury bonds that sent yields sharply lower.

Learn more: What Trump's tariffs mean for the system and your wallet

As of Thursday morning, 10-year Treasury yields, which intimately way owe rates, had fallen by much than 12 ground points to 4%.

But adjacent earlier the tariff announcement, enslaved yields had been moving little arsenic investors sought safe-haven assets aft a brace of caller economical reports suggested the system whitethorn beryllium slowing.

On Tuesday, information showed that manufacturing enactment contracted for the archetypal clip this twelvemonth and prices roseate amid tariff uncertainty. A abstracted study from the Bureau of Labor Statistics showed that the occupation marketplace is cooling, with openings dropping betwixt January and February to hover adjacent a four-year low.

Mortgage rates astatine existent levels translated to mixed results for applications past week, according to the Mortgage Bankers Association. Applications to acquisition a location roseate 2% done Friday compared to a week earlier, portion refinancing applications fell 6%.

Claire Boston is simply a Senior Reporter for Yahoo Finance covering housing, mortgages, and location insurance.

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