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Mortgage rates fell again, reaching another two-week low

Mortgage News Daily said low intraday volatility in the bond market helped lenders keep rate sheets unchanged for much of the day.

Reported · Written up by our desk · Mortgages

Mortgage News Daily said mortgage rates edged down to another two-week low as intraday volatility in the underlying bond market stayed minimal, allowing lenders to issue rates once in the morning without mid day changes.

The outlet attributed the improvement to overnight bond market movement, as traders continued finding value in bonds after recent increases in yields, which tend to drive demand among investors.

Mortgage rates are linked to Treasury yield moves, and Mortgage News Daily cited recent context including a period in 2023 when the 10-year Treasury yield reached 5%, along with the current wait for similar buyer support as yields crested 5.3%.

While the latest drop is seen as supportive, Mortgage News Daily cautioned that upcoming inflation data could shift bond yields and push mortgage rates back toward recent highs if inflation prints higher than expected.

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