It was easy to get lulled into complacency by the second half of 2020 when it came to mortgage rates. Even as other indicators said rates should be rising, they continued on a calm journey to multiple record lows. 2021 has been very different so far! Covid and its impacts on the economy remain the driving forces behind market trends. That’s generally been great for rates, but it also means that rates should gradually rise as we battle back against covid. If the onset of the pandemic pushed rates to all-time lows, it’s only fair that progress against the pandemic would result in rates moving up from all-time lows. If you ask 10yr Treasury yields, that’s been the case for quite a while. And while the stock market has been singing a similar tune, the mortgage market has been in its own glorious
Mortgage Rates Newsletter – Market Analysis