U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 1.67%, down from 1.72% last week. The 30-year treasury bond yield ended the week at 2.34, unchanged from 2.35% last week. We watch bond yields because mortgage rates often follow treasury bond yields.
Mortgage rates - The April 08, 2021, Freddie Mac Primary Mortgage Survey reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate was 3.13%, down from 3.18% last week. The 15-year fixed was 2.42%, down slightly from 2.45% last week. The 5-year ARM was 2.93%, up from 2.84% last week.
The Fannie Mae Home Purchase Sentiment Index strengthened in March – Americans are more upbeat about the idea of buying and selling a home according to Fannie Mae’s Home Purchase Sentiment Index which rose to a reading of 81.78 in March. That marked a 5.2 point increase from the February reading. The index is done from a tabulation of responses from consumers surveyed by Fannie Mae. Some of the results were: 61% of consumers said it was a good time to sell, up from 55% in February.53% of consumers said it was a good time to buy, up from 48% in February. 50% of consumers said that home prices will go up over the next 12 months, up from 47% in February. 82% of consumers said they are not concerned about losing their jobs. 25% of consumers said their household income is significantly higher than it was 12 months ago, up from 17% in February.
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