Freddie Mac rediscovers link between Mortgage Rates and Treasury Yields
The 30 year Fixed Rate Mortgage, as reported by Freddie Mac, dropped to 4.23% this week. In a statement Freddie’s chief economist wrote: “The 10-year Treasury yield fell about 10 basis points this week. The 30-year mortgage rate moved with Treasury yields and dropped 7 basis points to 4.23 percent.”
Just four weeks ago the same economist wrote: “This week’s survey once again displays the disconnect between mortgage rates and Treasury yields.”
My article Lies, damned lies and statistics*: mortgage rates demonstrates the very clear correlation between mortgage rates and the yield on 10 year Treasuries and provides a quick way to know where mortgage rates are headed.
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Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated