30-year fixed mortgage rate tops 7% for the first time in over a year
Thursday, September 10, 2026
Middle East tanker transits Sep 2-9, 2026: Strait of Hormuz 1.5/day, Bab-el-Mandeb Strait 13.0/day
Ah, an 8-day table instead of a 7-day.
Not gonna catch me dividing by a smaller number, no-sir-ee.
This JMIC Advisory Note leads off with no fewer than 8 ship incidents, 5 of which were U.S. CENTCOM disabling actions.
For the tanker table please go here:
Joint Maritime Information Center Update 095 JMIC Advisory Note 10 September
Meanwhile at this hour . . .
WTI $102.87
BRENT $108.16
USA GASOLINE $4.27
Overall wholesale prices in August 2026 are up 5.4% year over year, core up 4.62%
Not seasonally adjusted:
PPIFID January - August 2026:
3.07, 3.36, 4.28, 5.69, 5.91, 5.57, 4.84, 5.44
PPICOR January - August 2026:
3.71, 3.83, 3.94, 4.91, 4.49, 4.79, 4.25, 4.62
Trump I PPICOR average 1.88
2025 average 3.28
2026 to date 4.31
There is plenty of housing available, but year over year sales in August are up only on homes priced more than $1 million
New houses are selling at an annualized rate of 607,000 in July 2026, with 488,000 available in July and supply at 9.6 months.
Existing homes are selling at an annual rate of 3.98 million in August with 1.62 million available and supply at 4.9 months.
Highest supply in a decade for existing homes indicates sellers are asking too much.
You know what to do.
Home sales fall in August despite the highest supply in over a decade
... Sales of previously owned homes fell 2% in August from July to 3.98 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.
... Housing supply totaled 1.62 million homes for sale at the end of August, up 3.2% from July and up 5.9% from the year before. At the current sales pace, that represents a 4.9-month supply — the highest level in over a decade, according to NAR.
Despite more supply, prices continue to rise. The median price of a home sold in august was $429,100, up 1.6% from August 2025. That is a new record high for the month of August.
... Homes are sitting on the market longer, averaging 31 days in August compared with 29 days in July. ...
C'mon man, the Fed has bought trillion$ in U.S. Treasury securities and can't keep yields down, how is the Treasury buying billion$ going to do anything?
This is nothing but another gimmick in a long line of gimmicks, brought to you by the unserious.
Serious governments attack high interest rate problems by cutting spending and raising taxes.
Neither American political party has had the courage to do those things in decades because Democrats demand endless spending to reduce endless poverty and Republicans demand endless tax cuts to stimulate endless lousy economic growth.
Bessent’s political turn in GOP speech tests his bond-market credibility
... His speech comes against the backdrop of the Treasury Department on Wednesday saying it would buy back as much as $6 billion in long-term Treasury debt this week, with a cap of at least $4 billion in operations later this year. The department began the buyback program in 2024 to solve a well-documented problem where trading can be thin for some long-term debt. ...
10Y yield at this hour is 4.92%.
20Y is 5.36%.
30Y is 5.351%.
And 2Y is at 4.514%, a 52-week high like the rest.
ECB playing catch up to reality, as always
ECB hikes interest rates to 2.5% as policymakers see risk of higher inflation, weaker growth
... Eurozone inflation hit 3.3% in August, with energy inflation spiking to 14.3%. ...
10Y yields at this hour:
Germany 3.4777%
France 4.382%
Expected inflation makes into the headline, not the not-expected inflation
Wholesale prices rose 0.4% in August, as expected
... On an annual basis, that put PPI at 5.4%, still well above the Fed’s 2% inflation target and 0.1 percentage point higher than expected. ...
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