Will 5% Mortgage Rates Cushion the Housing Market?

After reaching 6.28% on June 14th, 30-year mortgage rates have decreased to 5.05% as of yesterday according to Mortgagenewsdaily.com. The 10-year Treasury yield has risen this morning, so it is likely mortgage rates will increase some today.

Note: In April, I wrote: How High will Mortgage Rates Rise? In that post, I included a simple method for estimatin…