Financial Markets -- mercurynews.com
NEW YORK - Treasury prices rallied Thursday, pressing the benchmark 10-year note yield back below 4 percent, after weak labor and housing reports stirred hopes that the Federal Reserve will cut rates again soon.
Newsvine - business - Wire
Treasury prices rallied Thursday, pressing the benchmark 10-year note yield back below 4 percent, after weak labor and housing reports kept hopes alive that the Federal Reserve will cut rates again soon.
MarketWatch.com - MarketPulse
SAN FRANCISCO (MarketWatch) -- U.S. fixed-rate mortgages fell again in the latest week, according to Freddie Mac's survey released Thursday. The national average interest rate on the benchmark 30-year, fixed-rate loan averaged 6.10% in the week ending Thursday; it hasn't been lower since the week ended Oct. 13, 2005, when it averaged 6.03%. The current rate is down from 6.20% a week ago and 6.14% a year ago. The 15-year fixed-rate loan averaged 5.73%, down from 5.83% a week ago and 5.87% a year ago. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.86%, compared with 5.88% a week ago and 5.95% a year ago. "Interest rates for U.S. Treasury securities have been drifting lower this month over market concerns that the housing slump and stress in the credit markets could slow future economic growth," said Frank Nothaft, Freddie Mac vice president and chief economist. "As a result, interest rates for fixed-rate mortgages had room to slip lower this week."