Mortgage rates have remained, quite remarkably, in a narrow range – remaining below 5% despite the ten-year Treasury note taking a beating for the past week with the yield now at 3.14%.  The reason this is remarkable is that the ten-year yield has risen 75 basis points over the past several weeks while mortgage rates [...]

Mortgage rates broke their four week fall last week as rates rose slightly with the benchmark thirty-year ending up right at 5.00% after another strong week for the stock market depressed bond prices. But that has since changed this week with bonds recovering most all of last week’s losses sending mortgage rates back below 5.00%.