Bond Prices Retreat a Little

Mortgage bonds are lower this morning, backing off the highs reached yesterday. After a 130-basis point gain without a correction, it would be a healthy move for bonds to take a breather before resuming their climb higher.


Today’s news has been mostly bond friendly, with Pending Home Sales falling 1% lower in February, which is well off the 0.7% gain the market anticipated. In addition, the final 4th quarter 2018 GDP report showed a growth rate of 2.2%. Although this modest gain isn’t terrible, it is a sharp drop from the 2.6% rate previously reported.


The 10-Year Treasury Note yield is holding at 2.377%, which is still beneath the support at 2.41%. If yields don’t tick above the ceiling, there is still plenty of room for yields to drop even further.


With bonds showing signs of a pullback, it will be a good time to lock for those needing to close soon.

Get your custom rate quote in 30 seconds

See your customized rate and fee options without sharing any personal information

See Purchase Rates See Refi Rates

Additional Articles

Still Need Help?