The bond market rally that began in early May and surged again last week has been lifting the prospects of mortgage banks, but actual improvement in business has been slow to develop.

Interest on home mortgages tend to mirror the yield of the benchmark 30- year Treasury bond, which dropped to 6.72% last Thursday, the lowest since February 1994.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.