WFB Briefs: Consumer Sentiment Hits Four-Month Low, Mortgage Rates Hit One-Year High

• Consumer sentiment fell 7.0% to 48.1 in September, according to the University of Michigan Survey of Consumers. The decline marked a 12.7% year-over-year decrease and the lowest reading in four months, down 15.0% from January. 


• Mortgage rates reached 7.03% on Thursday, the first time they’ve passed the 7% mark since January 2025, according to NPR. The jump risks squeezing the budgets of homebuyers even more, NPR reported.


 

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