Mortgage rates fall as economic softness sends bond yields lower

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Mortgage rates fall as economic softness sends bond yields lower

Mortgage rates decreased again today on weak economic data, following last Friday’s similar drop in the 10-year yield. Furthermore, the mortgage spreads in today’s pricing are favorable. According to the latest quote from Mortgage News Daily, mortgage rates are now around 6.89%. This represents a decline of 0.37% from the most recent high of 7.26%, which was recorded on Jan. 13. Many might be taken aback by this drop, especially given ongoing ta…