Mortgage Refi Applications Deader Than A Norwegian Blue
Finally, the US Treasury 10-year yield has pierced the 3% barrier and NOT immediately dropped back. The 10-year yield stands at 3.03%.
How about the 30-year mortgage average? The Bankrate 30Y mortgage average rate is now 4.50%.
Mortgage refinancing applications? They are deader than Monty Python’s Norwegian Blue Parrot.
Mortgage lenders in terms of refinancing applications are pining for the fjords.