Mortgages are tracking the 10-year almost one for one
The 10-year auction cleared at 5.30% with 2.77x bid-to-cover. Buyers showed up, they just want paying.
Mortgages are tracking it nearly 1:1: 10-year up 143bp from the pre-Iran low, 30-year fixed up 153bp from 6.1% to 7.63%.
On a $400K loan that's roughly $409 more a month.
Sources: @HedgieMarkets: The US Treasury sold $39 billion of 10-year notes today at a 5.30% yield, the highest for a 10-year auct · @KobeissiLetter: BREAKING: The US 10Y Note Yield rises above 5.35% for the first time in 24 years. That brings the total · @unusual_whales: BREAKING: The average 30 year fixed mortgage is now 7.63%, per MortgageNewsDaily. · @zerohedge: $400K Mortgage: monthly payments at... 2.9% (covid lows) 6.1% (pre-Iran) 7.5% (today) https://t.co/PbjCuBp7F · X News: U.S. Treasury Sells $39 Billion 10-Year Notes at 5.30% Yield, Highest Since 2000
Not financial advice. For informational and educational purposes only.
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