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Mortgage demand rises amid MBS volatility

Consumer demand for home loans rose for the third consecutive week due to declining mortgage rates, following the turbulence in the financial markets caused by regional bank failures. 

But the same bank crisis is bringing volatility to the mortgage-backed securities (MBS) market, preventing mortgage rates from going down even further, according to industry experts. 

The 10-year U.S. Treasury yields declined from 4% on March 2 to 3.6% on March 21, driven by uncertainty over the banking sector’s health after the failures of Silvergate BankSilicon Valley Bank and Signature Bank and worries about the broader impact on the economy.

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