Benchmark Mortgage Rate Hits 14 Month High as Bond Yields Continue to Rise The benchmark mortgage rate has reached a 14 month high due to rising bond yields.
This increase in interest rates is sending shockwaves through the housing market, leaving buyers and sellers uncertain about their prospects. What's Behind the Rise in Mortgage Rates?
Mortgage rates are closely tied to the performance of the 10 year Treasury note. As bond yields rise, so do mortgage rates, as lenders seek to maintain their profit margins.