By Shaina Mishkin Order Reprints Text size
Mortgage rates typically rise and fall alongside the 10-year Treasury yield since both are influenced by investor activity in the bond market. Bing Guan/Bloomberg
Mortgage rates increased this week from their historic low. Home buyers and owners looking to refinance shouldn’t expect them to go back down.
Bond yields, which have been increasing steadily since mid-August on hopes for further stimulus and optimism that the economy will rebound once a vaccine is distributed, rose swiftly in the new year, with the benchmark 10-year Treasury yield climbing 22 basis points (one-hundredth of a percentage point) to close as high as 1.15% this week.