Mortgage rates above 7% are the 'new normal'—here's why
Published . Updated .
High inflation and competition for investor dollars are helping keep longer-term interest rates elevated, economists say.
Directly affected
- No company is named in this report.
Indirectly affected
- XLRE Real Estate Select Sector SPDR-1.3% 30d
Real Estate Select Sector SPDR: it holds property and homebuilding stocks. Linked by “mortgage” (real estate) in this story.
- XHB SPDR S&P Homebuilders ETF+0.1% 30d
SPDR S&P Homebuilders ETF: it holds property and homebuilding stocks. Linked by “mortgage” (real estate) in this story.
- TLT iShares 20+ Year Treasury Bond ETF-1.8% 30d
iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story.
- TIP iShares TIPS Bond ETF-0.5% 30d
iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story.
- JPM JPMorgan Chase-5.3% 30d
JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.
- BAC Bank of America-15.0% 30d
Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.
- PLD Prologis-7.0% 30d
Prologis (real estate investment trusts): housing and property firms move with mortgage rates and demand. Linked by “mortgage” (real estate) in this story.
- DHI D.R. Horton-4.1% 30d
D.R. Horton (operative builders): housing and property firms move with mortgage rates and demand. Linked by “mortgage” (real estate) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLRE | -2.14% | -1.22% | base | +0.66% | after close | after close | after close |
| XHBNo price data for this ticker | — | — | — | — | — | — | — |
| TLT | -2.31% | -1.35% | base | +0.53% | after close | after close | after close |
| TIPNo price data for this ticker | — | — | — | — | — | — | — |
| JPM | +0.58% | +1.08% | base | +1.33% | after close | after close | after close |
| BAC | -0.32% | +0.51% | base | +1.41% | after close | after close | after close |
| PLDNo price data for this ticker | — | — | — | — | — | — | — |
| DHI | -8.25% | -5.74% | base | +1.03% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
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Mortgage rates above 7% are the 'new normal'—here's why CNBC
Source: CNBC
Select Sector Spdr Tr (XLRE)
Select Sector Spdr Tr (XLRE) the next day, across 9 earlier stories: average -0.53%, largest gain +0.41%, largest drop -1.00%, from 3 prices.
| Company | When | Average | Largest gain | Largest drop | Prices |
|---|---|---|---|---|---|
| Select Sector Spdr Tr (XLRE) | the next day | -0.53% | +0.41% | -1.00% | 3 |
| Select Sector Spdr Tr (XLRE) | three days later | +0.26% | +0.58% | -0.37% | 3 |
| State Street Spdr S&P Homebuilders Etf (XHB) | the next day | -1.28% | -1.28% | -1.28% | 2 |
| State Street Spdr S&P Homebuilders Etf (XHB) | three days later | +0.97% | +0.97% | +0.97% | 2 |
| Horton D R (DHI) | the next day | +2.62% | +6.09% | +0.89% | 3 |
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How far Select Sector Spdr Tr (XLRE) has moved since 26 Oct 2026
| Company | When | Move | Status |
|---|---|---|---|
| BAC | that day | +1.41% | still updating |
| BAC | three days earlier | +0.51% | final price |
| BAC | five days earlier | -0.32% | final price |
| Horton D R (DHI) | that day | +1.03% | still updating |
| Horton D R (DHI) | three days earlier | -5.74% | final price |
| Horton D R (DHI) | five days earlier | -8.25% | final price |
| JPM | that day | +1.33% | still updating |
| JPM | three days earlier | +1.08% | final price |
| JPM | five days earlier | +0.58% | final price |
| TLT | that day | +0.53% | still updating |
| TLT | three days earlier | -1.35% | final price |
| TLT | five days earlier | -2.31% | final price |
| Select Sector Spdr Tr (XLRE) | that day | +0.66% | still updating |
| Select Sector Spdr Tr (XLRE) | three days earlier | -1.22% | final price |
| Select Sector Spdr Tr (XLRE) | five days earlier | -2.14% | final price |
Trades by members of Congress and officials in the stocks in this story
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 52 days before publication. Filed 1 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM), worth $15,001 - $50,000 on 4 Sep 2026. That is 52 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 27 Aug 2026. That is 60 days before publication. Filed 4 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 47 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Laurel Lee sold Bank Of America (BAC) (held by a spouse), worth $50,001 - $100,000 on 24 Aug 2026. That is 63 days before publication. Filed 16 Oct 2026. View the filing.
- Rep. Rohit Khanna sold Prologis (PLD) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 31 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna sold Prologis (PLD) (held by a dependent child), worth $15,001 - $50,000 on 11 Sep 2026. That is 45 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Horton D R (DHI), worth $15,001 - $50,000 on 17 Aug 2026. That is 70 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Rohit Khanna sold Lennar (LEN) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 31 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna sold Lennar (LEN) (held by a dependent child), worth $1,001 - $15,000 on 11 Sep 2026. That is 45 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Lennar (LEN), worth $15,001 - $50,000 on 28 Aug 2026. That is 59 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who is named in “Mortgage rates above 7% are the 'new normal'—here's why”
Companies carried with this story
- XLRE Select Sector Spdr Tr
Select Sector Spdr Tr (XLRE) is linked, with no stored direction, medium confidence in the 26 Oct 2026 story “Mortgage rates above 7% are the 'new normal'—here's why.” Reason on file: Real Estate Select Sector SPDR: it holds property and homebuilding stocks. Linked by “mortgage” (real estate) in this story
- XHB State Street Spdr S&P Homebuilders Etf
In “Mortgage rates above 7% are the 'new normal'—here's why,” State Street Spdr S&P Homebuilders Etf (XHB) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Homebuilders ETF: it holds property and homebuilding stocks. Linked by “mortgage” (real estate) in this story
- PLD Prologis
For “Mortgage rates above 7% are the 'new normal'—here's why,” Prologis (PLD) is linked, with no stored direction, medium confidence. Reason on file: Prologis (real estate investment trusts): housing and property firms move with mortgage rates and demand. Linked by “mortgage” (real estate) in this story
- DHI Horton D R
In “Mortgage rates above 7% are the 'new normal'—here's why,” Horton D R (DHI) is linked, with no stored direction, medium confidence. Reason on file: D.R. Horton (operative builders): housing and property firms move with mortgage rates and demand. Linked by “mortgage” (real estate) in this story
- LEN Lennar
In “Mortgage rates above 7% are the 'new normal'—here's why,” Lennar (LEN) is linked, with no stored direction, medium confidence. Reason on file: Lennar (general bldg contractors - residential bldgs): housing and property firms move with mortgage rates and demand. Linked by “mortgage” (real estate) in this story
- WELL Welltower
For “Mortgage rates above 7% are the 'new normal'—here's why,” Welltower (WELL) is linked, with no stored direction, medium confidence. Reason on file: Welltower (real estate investment trusts): housing and property firms move with mortgage rates and demand. Linked by “mortgage” (real estate) in this story
How “Mortgage rates above 7% are the 'new normal'—here's why” reaches Select Sector Spdr Tr (XLRE)
On 26 Oct 2026, “Mortgage rates above 7% are the 'new normal'—here's why” is the story that connects Select Sector Spdr Tr (XLRE) to this story.
The link for Select Sector Spdr Tr (XLRE) is this: Real Estate Select Sector SPDR: it holds property and homebuilding stocks. Linked by “mortgage” (real estate) in this story
A second company, State Street Spdr S&P Homebuilders Etf (XHB), is listed for a different reason: SPDR S&P Homebuilders ETF: it holds property and homebuilding stocks. Linked by “mortgage” (real estate) in this story
Dates and price levels for Select Sector Spdr Tr (XLRE)
PLD traded between 123.44 and 134.88 across 20 sessions. The latest close on file is 126.39. XHB traded between 91.93 and 99.27 across 20 sessions. The latest close on file is 98.36. XLRE traded between 40.28 and 43.19 across 20 sessions. The latest close on file is 42.57.
How solid “Mortgage rates above 7% are the 'new normal'—here's why” looks
46 out of 100Price not final
“Mortgage rates above 7% are the 'new normal'—here's why” scores 46 out of 100. The score uses 1 sources, and 6 linked companies. The price is not final yet.