Tension Mounts Over Rising Rates; Builder Data Suggests Slower June Sales; Impact of Servicing on Chase
Mortgage rates were slightly higher again today, and this time, it's personal! OK, so it's not really "personal," but it is now more of a concern for those following rate trends and hoping they'll stay near all-time lows. We actually get more help from US Treasuries in arriving at this conclusion than we do from mortgage rates themselves. That's not because Treasuries are directly linked to mortgage rates, but rather because Treasuries are a better indicator of trends in the overall market for debt and interest rates. At the moment, the yield on the US 10yr Treasury Note is hovering just over 1.53. This is a critical level that acted as a floor in both February and June. Then it acted as a ceiling on several occasions since then. This sort of "floor/ceiling" behavior suggests there would be
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