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I pen a regular mortgage column for HSH.com. This week's content is posted.
Today's article is titled "10-year Treasury is a false indicator of mortgage rates". You can read the full article on the HSH website. It debunks the myth that the 10-year Treasury note is a reasonable proxy for tracking mortgage rates.
An excerpt:
So, how poor of a gauge is the 10-year Treasury note for tracking mortgage rates? Just one time since the financial crisis of 2008 have the average weekly 30-year fixed rate mortgage and the 10-year Treasury note moved in the same direction by the same amount. That's one week out of 150.
Mortgage rates don't move like treasuries.
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Mortgage rates have dropped to all-time lows again. There's great deals out there. You won't know that by watching the 10-year Treasury, though. You'll need to see it for yourself.
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Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator click to get a free, no-obligation rate quote.
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