Mortgage rates for the week ending March 13th are out. Yahoo Finances Danny Romero joins me now with the numbers. Hey Danny.

Brad, mortgage rates remained steady this week. Freddie Mac reported that the 30-year fixed mortgage rate rose two basis points to 6.65% this week. Remember mortgage rates have been trending lower compared to the past few months and mortgage rates tend to follow the 10-year Treasury yield. And so yields on the 10-year note are down around 4.3% as traders ramp up their expectations for a Fed rate cut. And so some are expecting that that next move could be in May, but for now, the central bank expects to keep rates steady at its March meeting. So economists at Freddie Mac say that the combination of lower mortgage rates, more housing inventory is a more favorable environment for the spring selling season.

Yeah, exactly. They led up to that conclusion with this, the mortgage rates continued to be relatively low versus the last few months, home buyers responding, purchase applications of 5% as compared to a year ago, that from Sam Cater, who is the Freddie Mac Chief Economist here. So Danny, with all of this new data, we've also seen new data showing more people are house hunting and applying for mortgages, right?

So with, you know, obviously lower mortgage rates, that is enticing more people to even search for homes for sale. So mortgage applications to purchase were up 7% this week, reaching the highest level since the start of February according to mortgage bankers association. So this curiosity though hasn't really translated to more housing activity. So Redfin reported that pending home sales fell by 6.1% on a yearly basis during the four weeks ending March 9th. So economists say that many Americans are still feeling really concerned about the economy, their job security and the potential risk for a recession.

Danny, thanks so much for breaking this down for us. Important to watch.