Over the last two months of economic uncertainty, the yield for the 10-year treasury has declined by 60 basis points from 4.8% to 4.2%. The 30-year fixed mortgage has followed suit, recently falling as low as 6.75% - that’s the lowest level since mid December. It’s quite obvious that stubbornly high mortgage rates slowed down early season home buyers here in the first quarter of 2025. Our weekly pending home sales data continues to run about 3% fewer than last year. This is after Q4 was...
