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U.S. Mortgage Rates Rise for Fifth Week in Row

M. Ali 18 March, 2021 10:21 pm Market Update

Mortgage rates in the United States continued to rise for the fifth consecutive week, reaching their highest level since June of last year, Bloomberg reported, citing data by Freddie Mac released on Thursday.

The average 30-year mortgage rate reached 3.09%, compared with 3.05% in the previous week.

It is worth noting that U.S. Treasury bond yields surged today, after the Federal Reserve expected inflation to exceed 2% this year.

The benchmark 10-year Treasury bond yield rose to 1.75% earlier in today’s session, reaching its highest level since January 24, 2020. It is now at 1.731%, rising by about 9 basis points.

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