Several Charts Showing The Ticking Clock For Rates
Posted To: Mortgage Rate Watch
One major theme in the 2nd half of 2020 is that mortgage rates have been insulated from market drama–walking a different path than their usual best friend, 10yr Treasury yields. If you ask Treasuries, the big bounce in rates is already well underway . Here’s how mortgage rates have bucked that trend:
This divergence is occuring for a variety of reasons, but the important thing to know is that we’re getting closer to “normal” day by day. Once we get there, mortgage rates will be less willing to defy their Treasury counterparts. As to the likely fate of Treasury yields, there’s room for movement in either direction.
In the bigger picture, rates will take cues from the economic recovery–a multifaceted issue in itself–and the success of vaccine production/distribution. Vaccine news already had…(read more)
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