Search
  • Mortgage Master

The Record Low 10-Year Treasury Yield Could Be Good News For Borrowers

The yield on the benchmark 10-year Treasury note, a key barometer for mortgage rates and Student loans, fell below 0.9% on Thursday. Borrowing costs could drop across the board as a Result. It was the first time the 10-year Treasury yield ever broke below 0.9%.

The yield on the 10-year note is a barometer for mortgage rates and other types of loans.

Most Americans’ largest liability is their home mortgage. Currently, the average 30-year fixed-Rate is about 3.71%, near the lowest level in years, according to Bankrate.com.


“Whether you are house shopping or refinancing, the rates today are a big advantage,” Tendayi Kapfidze, the chief economist at LendingTree, an online loan marketplace, said Tuesday.

“For people refinancing, this will be a more compelling proposition,” added Mark Hamrick, Bankrate.com’s senior economic analyst. “You could be freeing up some money in your monthly budget and that money can be put to use.”



16 views