The gain in the 10-year Treasury yield signals more increases in mortgage rates, which have remained high this year relative to their historic lows earlier...
Builder stocks were dropping on Tuesday, and the increase in the 10-year Treasury yield, with which mortgage rates often move, is likely to blame.
The pullback was probably driven by Tuesday’s gain in the 10-year Treasury, which was yielding a preliminary 4.247% Tuesday morning—the sixth highest yield of 2023, according to Dow Jones Market Data. The gain in the yield signals further increases for mortgage rates, which have remained high this year relative to their historic lows earlier in the pandemic. Freddie Mac ‘s weekly gauge tracking the average 30-year mortgage rate climbed as high as 7.23% in August, its highest level in decades, before dropping slightly last week.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japanese stocks climb for sixth day as Hong Kong stocks gainStocks in the Asia-Pacific region mostly grew Monday, Sept. 4, Japanese shares climbing for the sixth day. The Hang Seng Index of Hong Kong companies added...
Read more »
Japanese stocks climb for seventh day as Hong Kong stocks dropAsia-Pacific stocks mostly decreased Tuesday, Sept. 5, Japanese shares climbing for the seventh day. Hong Kong's Hang Seng Index fell 2.1% to 18,456.91,...
Read more »
The Fed's inflation fight will push the 10-year Treasury yield to 5%The U.S. economy will likely see growth around 2% and inflation closer to 3%.
Read more »
Utility Stocks Can’t Compete in a World Awash With YieldThe utilities sector has slumped 12% in 2023 and is by far the worst-performing group in the S&P 500.
Read more »
U.S. Treasury yields rise as investors weigh economic outlookU.S. Treasury yields climbed on Tuesday as investors considered what could be next for the economy following last week’s key data releases.
Read more »