U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 0.66%, down slightly from 0.70% last week. The 30-year treasury bond yield ended the week at 1.40% down from 1.45% last week.
Mortgage rates – The September 24, 2020, Freddie Mac Primary Mortgage Survey reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 2.90%, unchanged from 2.87% last week. The 15-year fixed was 2.40%, unchanged from 2.37% last week. The 5-year ARM was 2.90%, down from 2.96% last week.
U.S. existing-home sales and prices soared in August – The National Association of Realtors reported that U.S. existing-home sales hit 6 million in August on a seasonally adjusted yearly basis. The number of homes sold in August was 10.5% higher than August 2019. That marked the highest number of homes sold in a month since December 2006. Prices also surged. Nationally the median price paid for a home jumped 11.4% from one year ago.