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Bond rates are rising what it means for you/your mortgage
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Homebuyers and refinancers looking for the best possible price might want to consider locking in their mortgage rate now. Though rates started the year with a new record low, a key benchmark suggests home loans could soon start getting more expensive.

Last week, the yield on the 10-year Treasury note crossed above 1% for the first time in 10 months, as the recent Democratic victories in Georgia raised the chances of more stimulus, which could mean faster economic growth, but also lead to inflation.

By Friday the Treasury note yield was 1.13%. Typically, mortgage rates move in lockstep with Treasury yields, leading some experts to predict rates will soon rise.

“Given that mortgage rates usually track with the 10-year Treasury note, we should closely follow the trend of the 10-year yield,” wrote Nadia Evangelou, a research economist for the National Association of Realtors on Thursday.

Rates are subject to change. All information provided here is accurate as of the publish date.