Stephen Basaja

speaker

35 appearances 1 recordings 1 series first heard Sep 2026 last heard yesterday

Stephen Basaja’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Sep 2026 with 1.

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what is going on here? matched

Yeah, well you know, these rates they are rising fast. matched

The most common type of mortgage is the thirty year fixed rate mortgage. matched

Two weeks ago the national average was about six and three quarters of a percent for the interest rate. matched

Today it's up more than a quarter of a percent. matched

So by mortgage rate standards, that is a sharp jump. matched

So what do we think happened to cause such a big jump? matched

Okay, stop me if you've heard this one before. matched

It goes back to the US war against Iran. matched

The war has played a big part in driving up mortgage rates by driving up the cost of oil and with it inflation. matched

Inflation concerns go up, bond yields go up, and mortgage rates tend to follow. matched

And remember, the bond market influences borrowing costs all across the economy, including for homes. matched

There's also a bunch of other factors hitting the bond market like all at once right now. matched

Run through a few of those for me. matched

Well, you got like tech companies issuing their own bonds to pay for data centers and AI. matched

Investors are buying up those instead of government bonds. matched

You also had the Federal Reserve raise their benchmark interest rate last week about a quarter of a percentage point. matched

That's a pretty modest move, but some of the Fed's policymakers are signaling more hikes could be on the way. matched

Investors do not love that. matched

And underneath all this is still stubbornly high inflation. matched

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