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30-year mortgage rates remain near a three-year high
Mortgage News Daily notes that 30-year rates were at similar levels briefly three years ago, while the U.S. government faces higher borrowing costs on new 5-year Treasury notes.
Mortgage News Daily said 30-year mortgage rates are currently near the levels they were briefly at exactly three years ago, adding that rates have not been at those levels for much of the period before that.
The outlet also pointed to higher funding costs in the Treasury market, saying 5-year Treasury securities issued at 1 percent are now paying off at about 5 percent on new 5-year T-notes as the U.S. deficit continues to rise.
At the Virginia Mortgage Bankers Association’s conference, which wrapped up the outlet’s coverage, lenders discussed operating in this relatively high rate environment alongside topics that included AI, credit changes, loan originators, and demographic considerations.
Mortgage News Daily said VantageScore updates this week are also expected to be a topic in its upcoming coverage, tied to planned discussion of changes in credit and related governance and industry themes.