Long-term Treasury yields pierced the post-August high, 3.50%, trading today at 3.57%, but did little damage to mortgage rates still holding close to 5.00%. The proximate causes of the rise: another huge week of Treasury borrowing finally ran into resistance (another $1.4 trillion coming in 2010, so why hurry to buy the paper?), and some […]

Mortgage and long Treasury rates are rising toward four-month highs this morning (5.25% and 3.49%) on a happy surprise in the job market. The monthly survey of big business “non-farm payrolls” found an end to job losses, and got some confirmation from an abrupt drop in the last two weeks’ claims for unemployment insurance. Other […]

Chairman Bernanke’s extraordinary speech on Monday instantly knocked 10-year Treasurys below 3.35%, where they have stayed. Lowest-fee mortgages are 5.00%. Economic data increased the tilt in markets toward concern for the recovery. Retail sales flattened to a .2% gain in October (ex-autos), breaking an apparent up-trend. New claims for unemployment insurance were unchanged at 505,000 […]

Treasury and mortgage rates have again reached their post-August highs, but still in tight ranges: the 10-year T-note 3.48%, low-fee mortgages just under 5.25%. The producer price index fell hard in September, down .6%, the much-hoped-for re-building of inventories not yet underway. Initial claims for unemployment insurance unexpectedly rose, back in the 525,000-550,000 weekly band. […]

Long-term rates are again approaching four-month lows, 10-year T-notes just above the magic 3.28% level; break that and low-fee mortgages will cross just under 5.00%. If that blessed moment should arrive, do not wait for lower, or expect sub-5.00% to last more than a few hours: surviving mortgage lenders will yell, “Now!” to a few […]

In this last, drowsy week of summer, long-term rates were unchanged: the 10-year T-note held under 3.50%, lowest-fee mortgages about 5.25%. Summer has another three weeks to run to solstice, but it’s all-hands-on-deck next week before a late Labor Day to deal with the first August data, especially Friday’s employment report. The change in payrolls […]

Interest rates are a hair lower at week’s end, more in relief that another massive Treasury borrowing — $109 billion in term debt alone — came off without injuries. However, long-term Treasury rates have been elevated since May, pushing mortgages to 5.50%, past the edge of refinance demand, and near the limit of buyer demand. […]