january 2011 mortgage rates: Will January 2011 San Diego Mortgage Rates Fall Back to November 2010 Levels? - 12/29/10 11:54 AM
If you've been following my mortgage rates report, you'll notice that I've had some challenges with my compass this past year.  That's to be expected in market distorted by an 800-lb, gorilla (The Federal Reserve Bank). 
A year ago, I cautioned that mortgage rates could quickly rise to the 6% level when the Fed stopped QE1:
That's what I think is happening today.  The MBS traders are purposefully selling mortgage-backed securities, knowing that the Fed will buy every last bond they offer until they are "bone dry".  Everybody is running towards the finish line (6%) now and they don't care how … (8 comments)