Daily Mortgage Rates and 10 Year Treasury Rate – July 17th
Posted on | July 16, 2009 | No Comments
Make sure to return to Subprime Blogger each weekday morning to get your daily mortgage rates in comparison to the 10 year treasury rate.
The 10 year treasury rate pulled back a little bit yesterday as it had a huge run up the day before. There is likely to be some expected consolidation after such a strong move higher. It will be interesting to see how the 10 year treasury rate yield closes the week. One thing is for sure, we will see higher mortgage rates when next week rolls around unless something drastic happens. You never know with the Federal Reserve though, they many announce another trillion buyback of US debt tomorrow and send the 10 year yield much lower.
The equation used for the correlation between mortgage rates and the 10 year treasury rate is
y = 2.7283(x)^2 + .5881(x) +.0308.
10 Year Treasury Rate – 3.56%
The correlation shows that the 30 year fixed rate should be approximately 5.52%. Actual rates…
30 Year Fixed Rate Mortgage – 5.31%
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