June
2007
Bank Rate
Full Article
The previous article is correct but after further research it is clear that even the experts are undecided on where the rates and the bond market will head…?
RISE AND FALL: The word to describe mortgage rates in the last week is: undulating. A week ago, the 10-year Treasury yielded 5.16 percent. It fell to 5.11 percent the next day, then rebounded over the next two days to 5.16 percent, then slid again. This morning, the 10-year yields 5.1 percent, the lowest it’s been since the first week of June.
As the pros say, past performance is no indicator of future results, and that’s the case this week. The economic calendar is full of items that could send bond yields and mortgage rates sharply up or down. (Or they could continue to undulate.)
CAUTION AHEAD: Because this week has so many economic releases that can influence mortgage rates, it’s a good idea to be careful. There’s a good chance that mortgage rates could plunge, but there’s also a strong possibility that they could skyrocket. They might do both — twice.
That means that whatever you do — float or lock — you’re taking a risk. Make your decision with care.
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