Robert McLister·Mortgage Rate Trends·June 24, 20095-year Yields Drift Lower 5-year bond yields are slowly dropping. The yield is now 2.54%. That’s down from the 7-month closing high of 2.81%, set on June 10. 5-year yields are a key driver of fixed mortgage rates. Typically, when yields drop, 5-year mortgage rates drop. In the past few days we’ve seen a handful of lenders lower rates, but just 0.05% or so. The Big 5 last raised mortgage rates on June 9, when the 5-year yield was 2.68%. Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.