Treasury Yields Surge Amid Economic Growth Expectations and Market Volatility
TL;DR Summary
On Monday, both 10-year and 30-year Treasury yields surged, erasing last week's declines, driven by fears of future inflation and supply concerns, which also caused mortgage rates to jump to 6.31%. Despite these increases, current mortgage rates are not historically high, but the housing market faces challenges due to prior home price surges fueled by ultra-low mortgage rates during QE, leading to an affordability crisis.
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