Daily Mortgage Rates and 10 Year Treasury Rate – July 31st
Posted on | July 31, 2009 | No Comments
It is hard to believe that we are already to the last day in July. It seems like the summer just started a few days ago. With that being said the 10 year treasury rate yield continues to work sideways after a two week strong move up. The GDP data this morning will move treasury rates but lets see what happens in the aftermath. Overall, I still think we are going to see mortgage rates catch up to the 10 year yield at one point but who knows when that will be.
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 – 3.64%
The correlation shows that the 30 year fixed rate should be approximately 5.58%. Actual rates…
30 Year Fixed Rate Mortgage – 5.25%
Comments
Leave a Reply