Bond yields moved lower in late January as the threat of the Chinese coronavirus influenced a shift from stocks to bonds. U.S. corporate and government bond indices advanced ahead of domestic and international stock indices in January, pulling the yield on the 10-year U.S. Treasury down to 1.51% on January 31st.
The low rate environment continues to fuel mortgage refinances helping to sustain housing prices across the nation. Mortgage rates for conventional 30-year fixed loans fell to levels not seen since before the 2016 presidential election.
Sources: U.S. Treasury, Fannie Mae
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