Mortgage Rates Drop Again

Following a mild decline last week, the 10-year Treasury yield rose 1 basis point this week. The 30-year mortgage rate similarly remained relatively flat, falling just 1 basis point to 3.89 percent. Mortgage rates are continuing to hold at low levels amidst ongoing economic uncertainty.

Mortgage Rates Inch Lower

After holding relatively flat last week, the 10-year Treasury yield fell 4 basis points this week. The 30-year mortgage rate moved in tandem with Treasury yields, dropping 3 basis points to 3.90 percent. Earlier this week, Federal Reserve officials highlighted the influence of continued weak inflation data on rates.

Mortgage Rates Jump Again

After fully absorbing the sharp increases in Treasury yields over the past couple of weeks, the 30-year mortgage rate has cleared the psychologically important 4 percent mark for the first time since May. Today’s survey rate stands at 4.03 percent, up 7 basis points from last week.

Mortgage Rates Jump

Global interest rates turned up sharply over the last week. The 10-year Treasury yield was no exception, increasing 10 basis points in a holiday-shortened week. The 30-year mortgage rate followed suit, rising 8 basis points to 3.96 percent.

30-Year Fixed Mortgage Rate Hits New Low

The 30-year mortgage rate fell 2 basis points to 3.88 percent this week. However, the majority of this Primary Mortgage Market Survey® (PMMS®) was conducted prior to Tuesday’s sell-off in the bond market which drove Treasury yields higher. Mortgage rates may increase in next week’s survey if Treasury yields continue to rise.

Mortgage Rates Inch Up After Extended Decline

The 30-year mortgage rate rose 2 basis points over the week to 3.91 percent. However, Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) was conducted before investors drove Treasury yields sharply lower in a reaction to the surprisingly weak CPI release. If that drop in yields sticks, mortgage rates are likely to follow in next week’s survey.