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Mortgage Rate Outlook May 29, 2009 -- Bond and mortgagemarkets spasmed this week, andthe corresponding sharp rise inrates over a two-day period servedas a reminder that even a batteredprivate market markets can be adangerous animal. It wasn't completelyclear what sparked the rout,but there was speculation that acombination of unclear goals inFederal Reserve quantitative easingprograms, floods of new sovereigndebt and shoddy treatment of GMbondholders all led to the selloff.Yields on the 10-year Treasurybond had lifted by just over half apercentage point in a few days'time, taking conforming fixed mortgagerates along for the ride. Afterstanding at a familiar 5.03% onTuesday, Conforming 30-yearFRMs leapt … (0 comments)
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