Refi Demand Staying Strong Despite Rising Rates; Lots of Data Ahead, But Will Markets Care?
The current Mortgage Monitor from Black Knight looks at the recent small increases in mortgage rates and their potential impact on home sales. The company says that Treasury yields have been rising with the 10-year up nearly 0.25 percent just since the January 5 Georgia senatorial runoff. While the spread between it and the 30-year mortgage rates absorbed part of the increase , mortgages did subsequently rise by about 1/8 th of a point. The January spike wasn't an isolated event, the 10-year yield had eased up 40 basis points over the last five months of 2020. "Should yields rise further in coming months, they may begin to impact 30-year rates more directly, although the Fed's bond buying efforts are expected to insulate the mortgage market to some degree," the report says. The 1/8 th point
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