Bond Market Rally Helps Mortgage Rates Plummet

Bond Market Rally!

The bond market experienced a monumental rally yesterday, with the 10-year Treasury yield dropping nearly 0.25%. This could be a great opportunity for homebuyers who are currently in the market, as mortgage rates also dropped significantly. The average 30-year loan rate went from 7.00% to 6.76%.

So why did this happen? Despite the better-than-expected jobs report, news of Silicon Valley Bank's failure had a major influence on the market. Many investors fled to the safety of US Treasuries due to fear of further bank collapses, driving yields down.

It's a reminder of the importance of staying informed of the bond market. Developments like this can provide a great opportunity and have a big impact on mortgage rates. Don't miss out on this chance - take advantage of this now!

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