The yield on the 10-year Treasury Bill (T-Bill) is usually a good indicator of what is likely to happen with 30-year mortgage rates. The chart below shows what has happened since late spring and the beating the yield has taken in the past few days. Today we saw three rate hikes. I can only hope interest rates don't jump too quickly. This should be a wake-up call for people still sitting on the fence. The cost of a small decline in price will not compare to a significant jump in the cost of a mortgage.
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