Mortgage Rates Rise on Treasury Bond yield

 

Today the yield on the 10 year Treasury Bond is up sharply over last week and Maine Mortgage Rates have come up with it. There was a weak 5 year auction yesterday (pushing yields higher) and there is a 10 year Treasury Bond auction today (pushing yields higher). Traders expect bond yields to retract as we approach the November Fed meeting and keep mortgage rates low.

I would recommend  floating any new mortgage applications and wait for pricing to improve. This also allows for your lender to lock at a much shorter rate lock period after receiving appraisal.  Contact your Maine Mortgage Broker or Banker for details and advice.

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