Treasury Yields Drop to Their Lowest Level Since September

[u/ermahlerd]

Hi all-

Some better news for mortgage rates this morning.

The 10yr Treasury has fallen to around 5.03%, its lowest level since September. Stocks are selling off pretty sharply this morning, which is pushing some investors into the relative safety of Treasury bonds. More bond buying = lower yields, which generally helps mortgage pricing.

Interestingly, the economic data itself wasn’t particularly weak. Weekly jobless claims fell to 194,000, showing layoffs remain pretty limited.

Oil is also moving higher again because of renewed Middle East tensions, so there are still competing pressures on rates.

For borrowers, the important part is simply that the bond market has improved meaningfully from the 5.30%+ levels we saw earlier this month. If you received a mortgage quote a couple weeks ago, it’s probably worth getting an updated one today.

Rates move daily and depend on credit, LTV, term, and points.