When Will The Mortgage Market Actually Care About Rising Rates?

There’s an obvious trend toward higher rates as far as Treasury yields are concerned.  Treasury yields and mortgage rates historically correlate quite well, but mortgage rates have almost completely ignored that correlation recently.  What gives?  And when will things change?  Mortgage rates simply weren’t able to drop as quickly as Treasury yields at the beginning of the pandemic and have been closing the gap ever since.  As of late 2020, they finally got on the same page again. 
With that being the case, are mortgage rates now at the whim of the broader bond market?  Yes and no.  …(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed