Why Treasury’s $6 billion bond buyback didn’t lower mortgage rates The recent bond buyback by the Treasury Department has been touted as a way to ease rising yields and bring mortgage rates down.
However, despite injecting $6 billion into the market, yields continued to climb, with the 10 year note hitting a three year high and mortgage rates creeping toward 7%.
This is not exactly the kind of news potential homebuyers and refinancers were hoping for.