Mortgage Rates Decrease on a Month-Over-Month Basis

According to information provided by Freddie Mac, mortgage rates decreased on a month-over-month basis. As of February 28th, 2010, the 30-year FRM- commitment rate had declined by 16 basis points to 3.47%, down from January’s 3.62%. As a comparison, the cycle peak was hit in November of 2018, when it reached 4.87%. At the end of December, the 10-year Treasury rate, was at 1.92%. Currently, it stands at 1.04%. The recent decline in the 10-year Treasury rate has greatly contributed to lower mortgage interest rates in the last few weeks.