twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Mortgage Rate News | Mortgage Market Index | ARM indices | ARM Statistics
Average fixed and ARM rates. Rate forecasts. Quotes on ARM indexes including COFI, MTA, LIBOR & Treasuries. Rate reset studies and reports. Mortgage rate litigation.

10-Year Treasury Yield Surges

Highest level in more than a year

June 19, 2013

By Mortgage Daily staff

A benchmark for mortgage rates surged to its highest level in more than a year following comments by the chairman of the Federal Reserve Board indicating that an end may be in sight for the central bank's bond buying strategy.

The Federal Open Market Committee issued a statement Wednesday saying that the latest economic data "suggests that economic activity has been expanding at a moderate pace."

Further recent improvement was noted in the labor market, though unemployment remains elevated. Household spending and business fixed investment improved, and the housing sector has strengthened further.

"The committee expects that, with appropriate policy accommodation, economic growth will proceed at a moderate pace and the unemployment rate will gradually decline toward levels the committee judges consistent with its dual mandate," the FOMC statement said. "The committee sees the downside risks to the outlook for the economy and the labor market as having diminished since the fall. The committee also anticipates that inflation over the medium term likely will run at or below its 2 percent objective."

While the statement indicated that the Fed will continue buying $85 billion a month in agency mortgage-backed securities and U.S. Treasury securities -- Fed Chairman Ben Bernanke made comments at a press conference suggesting that the economy is improving and the bond-buying strategy could start winding down purchases later this year and be finished by the middle of 2014 as long as unemployment falls to 7 percent.

U.S. unemployment was 7.6 percent in May, according to the Department of Labor.

The Fed comments were followed by a big drop in the Dow Jones Industrial Average, which fell more than 200 points Wednesday.

The yield on the 10-year Treasury note leapt to 2.33 percent today from 2.20 percent on Tuesday, according to Treasury Department data.

The last time the 10-year yield was this high was on March 19, 2012, when the yield closed at 2.39 percent.

Based on the market's latest movements, the 30-year mortgage is likely to be a little higher in Freddie Mac's Primary Mortgage Market Survey tomorrow.

The 30 year averaged 3.98 percent in last week's survey from Freddie.

next story

back to current headlines

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders