Ryan Payne, president of Payne Capital Management, told ‘Mornings with Maria’ that private equity firms are pouring billions into sports as team valuations soar. Billionaires such as Jeff Bezos and Disney chief Bob Iger are joining the investment wave, injecting capital that could reshape leagues.
Mortgage rates slip for second week
Freddie Mac reported that the average 30‑year fixed mortgage rate fell to 6.65%, down from 6.67% a week earlier and far below the 6.58% seen a year ago. The decline offers modest relief to homebuyers navigating higher prices.
Slowing labor market creates new hurdle for first‑time homebuyers
Sam Khater, Freddie Mac’s chief economist, warned that a weakening labor market adds pressure on first‑time buyers already squeezed by affordability. “With a dip in rates providing modest relief, borrowers can save thousands by shopping around for the best mortgage rate,” he said.
A real estate agent prepares an open house in Rancho Cucamonga, California, on May 9 2026, illustrating the ongoing housing activity.
15‑year mortgage rate eases
The 15‑year fixed mortgage rate slipped to 5.95%, a fraction lower than the previous week’s 5.96%.
Rates track Treasury yields, not Fed moves
Mortgage rates follow the 10‑year Treasury yield, which hovered near 4.7% on Thursday, rather than the Federal Reserve’s policy decisions.
Elevated Treasury yields stem from a projected $2.1 trillion federal budget deficit, according to the Congressional Budget Office.
Historic Treasury auction results
Recent Treasury auctions set record yields: 10‑year notes cleared at 4.683%, the highest level in 19 years, while 30‑year bonds sold at 5.216%, a 25‑year peak.
Buyer’s market emerging in select cities
Realtor.com senior economist Jake Krimmel noted that today’s rates represent a base level that is expected to rise next week amid market volatility. He added that, although the 30‑year Treasury hit a 20‑year high, mortgage rates track the 10‑year yield, which has moved less dramatically, keeping borrowing costs relatively stable for the typical seven‑to‑ten‑year loan.
