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Treasuries Gain After New Home Sales Decline to a 12-Year Low

Treasuries rose the most in more than two weeks and headed for the best annual returns since 2002 after a government report showed sales of new homes in the U.S. declined to a 12-year low last month.

Ten-year note yields fell to the lowest level in a week after the Commerce Department said sales dropped 9 percent.

The three-month London interbank offered rate, or Libor, fell 10 basis points to a 22-month low of 4.73 percent

Riots in Pakistan after the assassination of former prime minister Benazir Bhutto added to investors' desire for the safety of government debt. Unfortunately, global uncertainty and unrest are usually good for Treasuries.

Posted by Kris Krajecki Mortgage Broker Huntley, IL on 12/28/2007 11:36 PM

Comments (5)

economy, rates, refinance, mortgage

5 Comments on Treasuries Gain After New Home Sales Decline to a 12-Year Low

Hi Kris: It sounds like you have your finger pretty well on the pulse of the mortgage rates. Just how low do you think the rates have to go to shock people out of their doldrums and get out into the market and buy up some of these bargains out there ? I'd really like your opinion. Thanks for sharing.

12/29/2007 12:44 AM

by Fort Worth Real Estate - - - Karen Anne Stone (RE/MAX Trinity)

Good for my MTA indexed option arm. Its at the same rate as a 30 year fixed jumbo.

So much for all those screaming about the EVIL ARM.

12/29/2007 01:31 AM

by Access San Diego (AccessSanDiego.com)

Kris, Great info! You are right about wars... very scary isn't it? I always watch the LIBOR it can jump in a heart beat..

12/29/2007 06:56 AM

by My Favorite Mortgage.net - Matthew J Blum

Karen,

I really think that it is the MEDIA that is keeping people from buying! If the media would say that things are getting BETTER (even if they were not) , people would start looking and buying! Rtaes are VERY low right now...and they have been on the downslide for months.....lower rates are not helping......lower home prices are not helping. Maybe Bush will say that he "fixed" the housing problem on his way out!!

:-)

01/03/2008 03:36 PM

by Kris Krajecki - American Mortgage Werks - Huntley, IL

Kris: Yeah, he "fixed it" alright ! Just like he "fixed" everything else. All I can say is that I did not vote for him either in 2000 when he lost, or in 2004 when he actually won. <g>

01/03/2008 06:29 PM

by Fort Worth Real Estate - - - Karen Anne Stone (RE/MAX Trinity)

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