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My months-long ongoing thesis of falling mortgage interest rates is coming true!
The yield on the 10-year note has broken through support and now rests at a year-to-date low of 2.26%.
As the 10-year correlates strongly with mortgage rates, I'm happy to report Mortgage rates are also at their lowest all year!
Give me a call if I can help you with anything at all.
Ken
951-760-3833
KenAHall@gmail.com
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This coming Friday, April 7th could quite possibly be 'D-Day' for the next leg down for Mortgage Interest Rates.
I don't want to get all technical but in basic terms ... here's the skinny:
Check out this chart and focus on the straight horizontal green line that shows what is called a 'support level' for the 10-Yr Treasury Bond.
Right now it's at about 2.31 and as you can see, the previous four times it touched that level it bounced right off of it and went back up quickly.
The 'Jobs Report' will be released this Friday. If it disappoints (I think it might), then we could likely see this 'support level' give way ... and if that happens ... we could see mortgage interest rates drop below 4% in a matter of days.
We shall See. Stay tuned!!
Give me a call if I can help you in any way.
Ken
951-760-3833
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