U.S. benchmark mortgage rates snap a four-week string of declines
Rates for home loans rose slightly, squelching borrower enthusiasm even as the long-term outlook for rates remained upbeat for buyers.
The 15-year adjustable-rate mortgage averaged 3.83%, also up six basis points. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.87%, up from 3.84%.Related: More new-home sales are for houses that haven’t even been started yet. That’s not a good thing Buyers may not have long to wait. The benchmark U.S. government Treasury note has been muted over the past few months as investors digest the likelihood that the current business cycle may be nearing an end. In a low-growth environment or a downturn, investors prefer safe assets, and when bond prices rise, their yields decline.
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