Mortgage rates drop, JPMorgan says Trump 'fraudulently' named CEO in lawsuit

Mortgage rates drop, JPMorgan says Trump ‘fraudulently’ named CEO in lawsuit

Yahoo Finance Video and John Hyland

Fri, February 20, 2026 at 3:11 AM GMT+9

In this video:

JPM

-0.82%

XLRE

-0.37%

XHB

-1.30%

W

-11.21%

Yahoo Finance’s John Hyland tracks today’s top moving stocks and biggest market stories in this Market Minute, including US mortgage rates falling to their lowest levels in nearly three and a half years, JPMorgan Chase (JPM) stating President Trump “fraudulently” named CEO Jamie Dimon in his lawsuit against the bank, and Wayfair (W) shares dropping despite seeing its annual sales grow for the first time since 2020.

Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance’s Market Minute.

Video Transcript

00:04 Speaker A

Time for your Yahoo Finance Market Minute.

00:08 Speaker A

US mortgage rates have fallen to their lowest level since September 2022.

00:15 Speaker A

According to data from Freddy Mac, the average 30-year loan fixed rate was 6.01%.

00:20 Speaker A

The drop could help bring buyers back into the market. Pending home sales data out this morning showed that sales of existing homes in the US fell in January to a record low.

00:27 Speaker A

Meanwhile, JP Morgan says President Trump quote fraudulently named the bank’s CEO Jamie Diamond as a defendant in his lawsuit over the closure of his accounts in order to file the case in Florida state court.

00:39 Speaker A

In a court filing, the bank sought to move the case to a federal court in Miami and said it would eventually seek to transfer it to New York.

00:48 Speaker A

JP Morgan said Trump’s allegation that Diamond directed the bank to put Trump and his businesses on a quote blacklist was not permitted under the Florida statute cited by the president.

00:58 Speaker A

And Wayfair’s annual sales grew last year for the first time since 2020.

01:02 Speaker A

The online furniture company’s beat Wall Street expectations on the top and bottom line for its results, but despite the sales growth, shares are slumping on the day.

01:10 Speaker A

And that’s your Yahoo Finance Market Minute.

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