Hello and welcome. Thank you for providing an opportunity to assist you.
To begin with, let me explain the relation of a bond price and its yield. Note that the Price of a bond and its yield are INVERSELY related. So, if one goes up, the other comes down, and vice versa.
For example, If you buy a bond with a 10% coupon at its $1,000 par value, the yield is 10% ($100/$1,000). Pretty simple stuff. But if the price goes down to $800, then the yield goes up to 12.5%. Therefore, Yield means is the amount of return an investor realizes on a bond.
Having said this, currently, the US 10-YR bonds have been declining and therefore, as a result, the Yields are RISING.
Mortgage rates tend to increase when the yield rises. However, note that It is important to know that Treasury yields only affect fixed-rated mortgages. The 10-year note affects 15-year conventional loans while the 30-year bond affects 30-year loans. The Fed funds rate affects adjustable rate mortgages.
I am sure this would help.
You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.