The average rate of 30 year mortgage has shot up to 6.41%. That is the highest rate since September of last year and comes after the rate dipped below the 6.00% level to 5.98% during the week of February 23.
The spike in rates is following the rise in the 10 year note. The 10 year yield has moved up from 3.926% to the current rate of 4.283% since the start of the Iranian war.
Looking at the weekly chart, the yield has moved back above its 100 week moving average at 4.248% (blue line on the chart below). Last week, the price extended back above its 200 week moving average currently at 4.024% (Green line on the chart below)..
The 10 year yield is up 0.8 basis points in trading today.
US stocks are down on the day but off its session lows.
- Dow industrial average is trading above and below unchanged
- S&P index is trading down -21 points or -0.31%
- NASDAQ index is trading down -160 points or -0.72%
Crude oil is trading up $1.22 were 1.27% and $96.95.
Gold is trading down $31 or -0.63% at $5045. For the week, gold prices are down -2.438% despite the global tensions. Slver is down $-3.52 or -4.20%.. For the week, silver is down -4.89%.
