Mortgage Rates Jump to Highest Levels in April

Mortgage rates jumped significantly higher today, relative to the almost perfectly flat trend that’s been intact for more than a week. We were already a bit cautious due to yesterday’s underlying market weakness, but today’s move was far swifter than yesterday’s imbalances would suggest. Viewed in the context of 10yr Treasury yields–a common yardstick for mortgages–we’d been holding under 1.80% for more than a week. It was one of the key levels traders were watching for a shift in momentum, followed by 1.84%. Less than 2 hours after 10yr yields broke 1.80 this afternoon, they catapulted themselves well over 1.84. Fortunately (and we’re talking about “silver lining” on a dark cloud here…)…
Mortgage Rates Newsletter – Market Analysis

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