From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 5/27/2026
U.S. equity markets are mixed Wednesday morning, with pressure in the cybersecurity sector weighing on broader technology shares. The DJIA is modestly higher, while the S&P 500 and Nasdaq are trading lower, reversing the prior session’s gains in those benchmarks. Treasury yields remain elevated, continuing to influence equity valuations. Meanwhile, U.S. crude oil prices have declined, falling below $90 per barrel after Iran signaled efforts to restore oil flows through the Strait of Hormuz to pre-conflict levels within the next month.
MBA mortgage applications fell 8.5% last week as the average interest rate of a 30-year fixed mortgage has increased 30 basis points over the last five weeks. Refinance activity was down 18% and purchase applications were 0.4% lower. The average interest rate of a 30-year fixed rate mortgage was 6.65%, the highest level since August 2025, up from 6.55% the previous week.
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