Daily Mortgage Rates and 10 Year Treasury Rate – July 23rd
Posted on | July 23, 2009 | No Comments
Sorry for the absence of the daily mortgage rates yesterday, hopefully I will not let that happen again. With that, yesterday proved to be another solid upward trending day for the 10 year treasury rate yield. The yield pushed all the way back to the 50 day moving average which might be some resistance for a few days. There is still very strong support in the up trending lower support line which looks to be around 3.4%.
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 – 3.55%
The correlation shows that the 30 year fixed rate should be approximately 5.51%. Actual rates…
30 Year Fixed Rate Mortgage – 5.16%
What is VERY interesting to me is the fact that the 30 year fixed should be around 5.51% yet it is still well below 5.25%. This is very likely to change in the near future as I expect mortgage rates to push higher. We shall see…
Please check out the daily Subprime Blogger Rant; today I addressed the Health Care Bill:
To offset the 8% tax on payroll from the Health Care Bill, what do you think small businesses are going to do…..CUT PAYROLL! Great, more job cuts from small businesses, sounds like a great plan!
Please read the entire article here: Health Care Bill Will Further Ruin Our Economy!
Tags: 10 year treasury rate > daily mortgage rates
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