Mortgages Stuck in Neutral: Why Rates Won't Budge The mortgage market has been stuck near a one year high, with rates lingering at 6. 67% for the average 30 year fixed rate mortgage and 5.
96% for the 15 year fixed mortgage. This stagnation has left potential buyers wondering when – or if – rates will drop.
The bond market is being weighed down by inflationary pressures, employment concerns, and ongoing Mideast turmoil, keeping the 10 year Treasury yield above 4. 5%. As a result, mortgage rates remain in lockstep with it.