30-Year Mortgage Rates increase to 5.85%
Goldman: "The median monthly payment of a 30-year mortgage is up 56% year-over-year"
In April, I wrote: How High will Mortgage Rates Rise? In that post, I included a simple method for estimating 30-year mortgage rates based on the 10-year Treasury yield.
Housing economist Tom Lawler explained that the relationship is more complicated in Lawler: Mortgage/Treasury Spreads, Part I and Lawler: Mortgage/Treasury Spreads Part II: “Decomposing…