Articles Tagged: refinance

2 articles found

Mortgage Demand Surges as 10‑Year Treasury Yield Falls Below 4% — Playbooks for Buyers, Sellers, and Real‑Estate Investors

A sharp bond rally—punctuated by the 10‑year Treasury yield testing sub‑4% intraday and closing near 4.01% on Sept. 11 before edging back to ~4.06% on Sept. 12—pulled mortgage rates to their lowest levels in nearly a year. Average 30‑year fixed quotes fell into the low‑to‑mid 6% range on the latest weekly read (about 6.35%), with some lenders briefly pricing high‑5% scenarios for top‑tier borrowers during the downdraft. Borrower response was immediate: total mortgage applications jumped 9.2% week over week, the strongest since 2022, with refinances up 12% and purchases up 7%. Adjustable‑rate mortgages also saw renewed interest, reflecting a wider spread versus fixed loans. This report explains the mechanics behind the move, quantifies the payment impact, and delivers clear playbooks for buyers, sellers, and investors—along with risk controls if rates snap back.

mortgage rates10-year Treasuryhousing market+9 more

Mortgage Rates Plunge as 10-Year Treasury Slides: Demand Surges and the Housing Playbook Shifts

A weaker-than-expected August jobs report knocked the 10-year Treasury yield toward 4%, igniting the sharpest daily drop in mortgage rates in more than a year and flipping the switch on pent-up demand. Average 30-year fixed rates are now firmly in the mid-6% range (6.35% as of September 11), with some lenders quoting in the high-5s for top-tier borrowers. The move is resetting near-term affordability calculations, reviving refinance conversations, and reordering the housing playbook for buyers, owners, and builders alike. The transmission mechanism is classic: softer labor data eased bond yields; mortgage-backed securities rallied; primary mortgage rates followed. The result is already visible in the application pipeline. Purchase demand is rising at the fastest clip since 2022, refinance activity is stirring, and homebuilder equities have sprinted higher over the past month. Yet structural constraints—stubborn prices and tight inventory—mean relief is real but not a cure. What happens next hinges on upcoming inflation prints, the Federal Reserve’s path, and whether supply can meet reawakened demand.

mortgage rates10-year TreasuryMBA applications+15 more