Posted To: Mortgage Rate Watch

Mortgage rate movement had been very calm relatively resilient compared to the broader bond market. In other words, mortgages have been doing better than US Treasuries. The 10yr Treasury yield is frequently used as a bellwether for mortgage rate movements and it’s moved up roughly 0.30% since the beginning of October. Mortgage rates were roughly in line with early October levels as of yesterday, despite rising fairly abruptly. Not bad! Over the course of the past few days, 10yr yields are up roughly 0.2% . This time around, the mortgage market hasn’t been able to avoid taking its lumps with the average lender now quoting 30yr fixed rates that are 0.125% higher compared to last Thursday. This leaves rates in territory that’s still great by historical standards, but the sharp nature of the move…(read more)

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Source: Mortgage News Daily