Treasury Bond Yields hold at 24 month low - The 10-year treasury bond closed the week yielding 2.09%, unchanged from 2.09% last week. The 30-year treasury bond yield ended the week at 2.59%, almost unchanged from 2.57% last week. We watch treasury bond yields because mortgage rates follow bond yield yields.
Mortgage rates remain at lowest levels in 2 years - The June 13, 2019 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 3.82%, unchanged from 3.82% last week. The 15-year fixed was 3.26%, almost unchanged from 3.28% last week. The 5-year ARM was 3.51%, also almost unchanged from 3.52% last week.
Housing sales and price data for May will be released next week. We are expecting both prices and sales numbers figures to be higher.