🏠 Treasury Yield Updates
5-Yr UST Yield: 3.845% > 3.821%
10-Yr UST Yield: 4.255% > 4.234%
Why is this important?
- Typically for every 20 basis point swing, rates will move 1/8th in the corresponding direction. In the last week rates have held steady with no real movement in any direction.
- Big jump in rates in the last week. It seems as if that jump is cooling off a little. Hope to see the treasuries dip into the mid 3’s (5-Year) and low 4’s (10-Year)
📈 Industry Headline • First Time Homebuyer: Interesting read on the ever increasing age of first time homebuyers. From 33 to 40 in only 5 years. Is it time to panic? I’m 26 years old and don’t want to be 14 years from my first home! 📘 What You Should Know (Opinion)
Even with rates above 6%, purchase activity is improving. Freddie Mac noted that buyers are responding because today’s rates are still lower than this time last year, when rates were closer to 6.65%.