Another fantastic day in the bond market has the 30-year mortgage quote under 4 percent.
Last night, the yield on the 10-year Treasury closed at 2.20 percent, according to data from the Department of the Treasury.
Today, the 10-year yield is trading around 2.12 percent, based on market data from WSJ.com. At the same time, the price of the 10-year Treasury — which moves up when the yield falls — was 1 1/32 better.
A 30-year fixed-rate pricing quote from the Marksman pricing engine for 30 days at par on a $200,000 mortgage was 3.875 percent around noon on Wednesday.
Yesterday, a similar Marksman search came up with a 30-year rate at 4.00 percent with a quarter point discount.
Freddie Mac reports that the 30-year mortgage reached its lowest level on record during the week ended Nov. 11, 2010, at 4.17 percent.