Treasury Bond Yields higher – The 10-year treasury bond closed the week yielding 2.99%, up from 2.94% last week. The 30-year treasury bond yield ended the week at 3.13%, up slightly from 3.11% last week. We watch treasury bond yields because mortgage rates follow bond yields.
Mortgage rates higher this week – The September 13, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.60%, up from 4.54% last week. The 15-year fixed was 4.06%, up from 3.99% last week. The 5-year ARM was 3.93%, unchanged from 3.93% last week.
We should begin to see August housing sales numbers around the end of next week.