Mortgage rates experienced a wild ride over the course of last week with a bad 10-year bond auction on Thursday to blame. The auction created a huge gap between the yields on the 10-year note and mortgage-backed securities, causing mortgage rates to rise for the first time in three weeks.
Analysts were divided over the cause of the jump, with some pointing to the auction itself and others attributing the rise to the recent uptick in treasury yields. The auction sent a clear signal to the market that buyers were shying away from the bonds, though some analysts are still expecting a rebound in the near future.
Important Elements:
– Mortgage rates experienced wild ride in the last week
– Bad 10-year bond auction on Thursday created gap between yields on the 10-year note and mortgage-backed securities, causing mortgage rates to rise
– Analysts divided over the cause of the jump but some expecting a rebound in the near future
You can read this full article at: https://www.housingwire.com/articles/where-are-mortgage-rates-headed/(subscription required)
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