Historically low mortgage rates had their moment in the sun in 2020. They rested far below 3% for months before America’s economic rebound pushed them back up in the winter of 2021. But data released on Thursday data from Freddie Mac showed that mortgage rates idled below 3% again for an entire month, even with solid first quarter GDP figures and encouraging consumer spending numbers.

Mortgage rates may look fickle, but the treasury market rules them. If the 10-year yield rises it’s most likely the result of inflation expectations picking up, and with them, details ⇒

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