Daily 30-year rate index climbs to 7.42%, highest in more than three weeks

Mortgage News Daily's index rose 0.12 point on November 12 after a bond selloff. Freddie Mac's weekly 7.11% lags this move because it averages earlier days.

In this brief: 3 sections 1 min read

- MND's daily 30-year index: 7.18% on Nov 9, 7.30% on Nov 10, 7.42% on Nov 12. Bond markets were closed Nov 11 for Veterans Day. MND calls it the highest level in more than three weeks.
- MND says bonds sold off after about 8 a.m. Eastern when a remark that the U.S. doesn't need a deal with Iran pushed oil prices and yields higher. The 10-year Treasury yield was 5.161% at the time of writing.
- Freddie Mac's Nov 12 survey showed 7.11%, down 0.07, but it averages the five business days ending Wednesday. MND says rates are about 0.25 point higher than during that survey period.

Read full analysis on mortgagenewsdaily.com

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