Treasury Bond Yields almost unchanged this week - The 10-year treasury bond closed the week yielding 2.59%, down from 2.62% last week. The 30-year treasury bond yield ended the week at 3.02%, almost unchanged from 3.00% last week. We watch treasury bond yields because mortgage rates follow bond yields.
Mortgage rates drop to the lowest level in one year - The March 14, 2019 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.31%, down from 4.41% last week. The 15-year fixed was 3.76%, down from 3.83% last week. The 5-year ARM was 3.84%, down slightly from 3.87% last week.
February home sales figures will be released next week.