Mortgage Rates and Treasury Yields

Mortgage rates could continue to drop even if Treasury yields remain stable, as they are currently significantly higher than historic levels. Banks have reduced their presence in the mortgage market, leading to less competition on rates.

Sinking Treasury Yields and Economic Concerns Ahead of Jobs Report

Sinking Treasury yields signal growing concerns about the economy ahead of Friday's jobs report, with weak manufacturing data and high jobless claims contributing to nervousness in the bond market. Traders are anticipating continued softness in the labor market and the possibility of rate cuts by the Federal Reserve.