Interest Rate Update

February 27, 2020

The benchmark 10-year Treasury hit a new low on Wednesday, 2/26 as global investors have been moving their money from equities into treasuries (seen as a safe haven investment). According to a 2/27 article on written by Dion Rabouin, “Mass bond-buying has taken place since the beginning of the year and picked up steam as headlines about the spread of novel coronavirus have grown more worrisome.”

The 10-year Treasury closed today at 1.27%. “We are currently offering our clients 10-year fixed-rate loans in the 2.75-4.00% range,” said Daniel Friedeberg, CEO of Barry Slatt Mortgage.