Christopher Barraud: U.S. 30-year mortgage rates have rebounded sharply since two weeks with the 30-year treasury yields spiking above 2.25% on Thursday (highest since January 2020). The recent shock to the Fannie Mae 30-year mortgage — used as a benchmark for U.S. home loans — was meaningful. On a 5-day basis, outside of one time during the Covid crisis last spring, it was the biggest percentage rise in mortgage rates on record.
Despite the latest report from Freddie Mac suggests that 30-year mortgage rates were still at 2.97% (highest since August 2020), it seems that reality is a bit different. Read More