Mortgage rates fought off yesterday's stock market rally to end the day where they began at 6 week lows. Today has proved to be a little much for our low mortgage interest rates as they've given in to investor confidence. The 10 year treasury yield which is the driving force behind 30 year fixed mortgages has risen to 3.434 as of 1pm EST. It's been as low as 3.26 in recent days. Let's hope it reverses course and continues its downward trend. If the 10 year yield dips under 3% we should see the 4.5% 30 year fixed rates once again.
0 comments:
Post a Comment