Treasury Bond Yields – The 10-year treasury bond closed the week yielding 2.83%, almost unchanged from 2.84% last week. The 30-year treasury bond yield ended the week at 3.14%, up from 3.08% last week. We watch bond rates because mortgage rates follow bond rates.
Mortgage rates higher this week – The February 8, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.33%, up from last week’s 4.22%. The 15-year fixed was 3.77%, up from 3.68% last week. The 5-year ARM was 3.57%, up from 3.53% last week.