Mortgage rates ease for second week but still top year-ago levels
The principal driver behind the year’s rate surge has been the US-Iran conflict, which began in late February and sent crude oil prices higher, stoking sustained inflation expectations. Long-term bond yields, which mortgage rates generally track, moved accordingly. As of midday Thursday, the 10-year US Treasury yield stood at 4.71%, compared with 3.97% before the conflict began. In…