Tags: US | Credit | Markets

Interest Rates Rise After Positive Housing News

Friday, 23 Apr 2010 03:09 PM

 

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Interest rates are rising in the bond market following a surprisingly strong report on new home sales.

The Commerce Department reported that sales of new homes jumped 27 percent in March, the biggest monthly increase in 47 years. Analysts say sales were boosted by a federal homebuyers' tax credit that's set to expire soon.

There was also some relief that Greece decided to trigger a bailout package to help manage its debt.

The yield on the benchmark 10-year Treasury note rose to 3.82 percent from 3.78 percent.

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