Mortgage rates rise at the fastest pace in months*
On January 9th I published Are mortgage rates about to rise?.
At that time the yield on the US Treasury 10-Year Note (10T) – the benchmark for the 30-year Fixed rate Mortgage (FRM) – had risen to 1.13%, compared with a low of under 0.6% last August.
Well, as of this morning, the yield on 10T is standing at 1.29%. The FRM as of last Thursday’s Freddie Mac survey was 2.73%, but will rise this week, possibly sharply.
My January article concluded: “A number of factors will influence the course of interest rates in the coming months, but at this point it looks as though 2.65% may represent the low point for the FRM.”
I will publish an updated review of mortgage rates this coming Saturday.
*This morning’s headline from CNBC
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