Goldman Sachs says the benchmark 10 year treasury yield, the best indicator for 30 year fixed mortgage rates, is headed to 3 percent. What does this mean for mortgage rates if Goldman is correct about the future of the yield?
Mortgage rates have waivered between 4.875 and 5.5 percent the past few months. If Goldman's analysis of the yield is accurate mortgage rates should move downward torward 4.5 percent and remain between 4.5 percent and 5 percent for the rest of 2009.
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