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Jeff Schraeder Richardson, TX More about me… Imperial Mortgage Office Phone: (972) 231-4143 Ext.: 112 Cell Phone: (214) 532-6692 Email Me
Discover what others have, no one works harder to get you your dream house. Our experienced staff is here to work with you to develop your loan application quickly, accurately, and honestly to make the strongest case for you. Then we shop our network of wholesale lenders to find the loan program that fits you best.
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Not to be a smart ass, but the 10-year Treasury yield has nothing to do with mortgage rates.
Mortgage rates are directly tied to Mortgage Backed Securities (MBS) which trade on the bond market. Many times the MBS go in one direction, while the 10-year Treasury goes another.
It's a common misconception, and even people on CNBC who are supposed to know this incorrectly say that the 10-year treasury going up is causing rates to increase.
What caused MBS to trade lower were the fears of global inflation and the market being nervous about the foreign Central Bank rate increases.
Also, Asian investors are buying less US bonds, which is bad because they have been huge purchasers of them in the past.
Galel Fajardo, CMPS™
President, Coast Mortgage Group