The European debt crisis is taking its toll on the U.S. stock market and sovereign debt yields. But it also has the yield on the 10-year Treasury note lower than any close on record — creating more opportunity for U.S. mortgage originators. The 10-year yield closed at 1.70 percent on May 17 — its lowest level on record based on historical data from the Federal Reserve Board dating back to 1962. Since then, the yield has bounced around between 1.71 percent and 1.79 percent, closing at 1.74 percent on Tuesday, according to data from the Department of the Treasury.
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