Did Mortgage Rates Drop Today? 10-Year Yield Hits 4.98%
The answer to “did mortgage rates drop today” is almost certainly no: the 10-year yield hit 4.98%. Lenders price 30-year fixed loans against that Treasury yield, and it rose 2.45% in a single session on Nov. 10 (Yahoo Finance) after the October CPI report showed prices rising faster than expected. A fixed-rate mortgage you already have doesn’t change at all. If you’re shopping or waiting to refinance, the next inflat…