00:02 Speaker A
It’s time for Yahoo Finance’s market minute.
00:05 Speaker A
US mortgage rates edged higher this week with the average 30-year rate rising to 6.16%. Despite the rise, mortgage rates remain near the lows hit last year and are well off the 30-year rate this time last year, which was 6.9%. It’s also worth noting that just last week mortgage rates fell to the lowest level since September of 2024.
00:18 Speaker A
Now, sticking with housing, Mizuho has downgraded American homes and Invitation homes amid regulatory risk presented by President Trump’s housing plans.
00:23 Speaker A
The President announced this week he will seek to ban institutional investors from buying single-family homes.
00:28 Speaker A
And in the tech sector, Alphabet has officially overtaken Apple as the second most valuable company in the world.
00:34 Speaker A
If Alphabet’s gains hold today, the company’s market value could exceed that of $3.95 trillion. It’s now just second to the world’s most valuable company, Nvidia.
00:41 Speaker A
And that’s your Yahoo Finance market minute. For more on what’s trending on Yahoo Finance, scan the QR code below to track the best and worst performing stocks of the trading session.