Mortgage Rates Pushing Important Boundary

Posted To: Mortgage Rate Watch

Mortgage rates continued farther into to the highest levels since early February today. The current territory is important in the bigger picture, as it has historically acted as a line in the sand between the lowest rate range and everything else. This refers to conventional 30yr fixed mortgage rates between 3.375% and 3.625%. The analogous 10yr Treasury yield would be 1.84% and below. With that in mind, 10yr Treasury yields ended the day at 1.84% and today's most prevalent conventional 30yr fixed rate quote is right on the edge of a move back up to 3.75% after a stable run at 3.625%. The longer term rate considerations are coming to a head right as we approach the biggest events on this, the biggest week of the month. Friday's jobs report is the most important event on the calendar, but markets...(read more)

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