Last week, the 30-year bond price rose to a high of 101.09, a rise of nearly 20% compared to two weeks ago. Also as inflation concerns have eased and foreign buyers are striving for a higher return on investment, the 10-year bond yield has fallen from 1.78% to around 1.55% and hovered between 1.50% and 1.75%.
Friday’s economic data showed positive. Housing starts in March surged by nearly 20% from February, while building permits rose by nearly 5%. Single-family houses still accounted for most of the market, with a soaring 15%. However, the market is still plagued by insufficient inventory, and as the labor market continues to improve, more buyers may enter the market in the coming months.
Loan interest rates have increased by nearly 0.5% in the past two months after they approached their multi-year lows in February. However, if the 10-year bond yield remains below 1.75% and the 30-year bond yield is lower than 2.50%, the market will still can be maintained in a low interest rate environment.
It is still recommended that you always pay attention to the market and lock the rate in time.
The economic data for next week is not many, only the number of initial jobless claims on Thursday and existing home sales in March, and new home sales in March on Friday.
Economic Calendar
Report
Period
Estimate
Impact
Date: Tue. Apr 22
Jobless Claims (Initial)
4/17
576K
Moderate
Existing Home Sales
Mar
6.22M
Moderate
Date: Wed. Apr 23
New Home Sales
Mar
775K
Moderate
Today’s Rates
Daily rate based on: SFR/Primary/LTV60/FICO 780/Purchase
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