Since jumping 11 basis points on May 18th, the 10-year Treasury yield has leveled-off around 1.85 percent. Mortgage rates continue to adjust to this new level with the 30-year fixed rate inching up another 2 basis points this week to 3.66 percent.

U.S. Treasury yields moved up in response to the Fed minutes release, which kept alive the possibility of a summer rate-hike. Mortgage rates followed, with the 30-year fixed-rate mortgage increasing 6 basis points to 3.64 percent. Despite this increase, May ends the month averaging only 3.60 percent, 1 basis point below April’s average, and the lowest monthly average in 3 years.

The 10-year Treasury yield saw minimal movement over the past week, despite encouraging news from April’s consumer spending and CPI data. Accordingly, the 30-year mortgage rate moved up just 1 basis point from its 2016 low to 3.58 percent.

Disappointing April employment data once again kept a lid on Treasury yields, which have struggled to stay above 1.8 percent since late March. As a result, the 30-year mortgage rate fell 4 basis points to 3.57 percent, a new low for 2016 and the lowest mark in 3 years.

The Fed’s decision to stand pat followed by a week of assorted unsettling news drove Treasury yields lower. As a consequence, the 30-year mortgage rate drifted down to 3.61 percent, just 3 basis points above the low for the year. Since the start of February, mortgage rates have varied within a narrow range providing an extended period for house hunters to take advantage of historically low rates.

The April 28 release of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) results shows mortgage rates inching higher. The 30-year mortgage rate jumped 7 basis points to 3.66 percent, responding to higher Treasury yields this week.

April 21 results of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) show mortgage rates little changed. Volatility in financial markets subsided over the past week, allowing Treasury yields to stabilize. As a result, the 30-year mortgage rate was mostly flat, up only 1 basis point to 3.59 percent.

The April 14 release of results of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) shows mortgage rates again moving lower, in response to high demand for Treasuries. The 30-year mortgage rate fell 1 basis point to 3.58 percent. This rate represents yet another low for 2016 and the lowest mark since May 2013.

Mortgage rates this week registered the delayed impact of last week’s sharp drop in Treasury yields as the 30-year mortgage rate fell 12 basis points to 3.59 percent. This rate marks a new low for 2016 and matches last year’s low in February 2015. Low mortgage rates and a positive employment outlook should support a strong housing market in the second quarter of 2016.

Freddie Mac’s March 31 release of the results of its Primary Mortgage Market Survey® (PMMS®) shows mortgage rates mixed and largely unchanged from the previous week.