(Bloomberg) — Treasury Secretary Scott Bessent said that he’s prepared to expand efforts to buy back costlier debt and that the administration will be unveiling a new fiscal initiative to address the highest borrowing costs in years. Processing Content “We are announcing probably at the end of this week, beginning of next week, an increased […]

New-home purchase originations notably fell in July as mortgage rates climbed during the month. Processing Content Applications for newly built homes slowed 5.7% year over year, according to the Mortgage Bankers Association’s monthly builders survey. Compared to June’s increased activity, volumes dropped 1% on an unadjusted basis. “Purchase activity for newly built homes slowed in

Efforts by the U.S. Treasury to stabilize volatile bond yields gave mortgage rates a temporary pause this week, but federal deficit pressures quickly checked any meaningful drop. With benchmark long-term yields reaching a 19-year high on news the federal deficit reached $1.8 trillion for the first 10 months of fiscal year 2026, the brief reprieve