MortgageJaw.com

Here we go again, with the 10 year treasury note auction coming up May 5th is the announcement and May 12th is the auction date and it will be interesting to see where the mortgage rates go. So far the 10 year treasury notes have found demand but how long will this last for………who knows. You also have another factor which is the government now has a bunch of mortgage backed securities and will want to start selling them off soon. It will be interesting to see how the pricing goes for mortgage backed securities and what it will cause the mortgage rates to do. Now for the answer to the always asked question, “What are the rates going to be?” or “When are the rates going up?” ……….the answer………… don’t know. The reason for not know is because we just don’t know how everyone’s demand is going to be for the items that tie into the mortgage rates. Best way to look at it, rates are truly at an ALL TIME LOW and you will never be able to get the EXACT lowest mortgage rate, so instead of trying to shoot for the lowest, just lock in and pay an extra $50 to $100 a month towards principal and it will all work out.  Since my previous post about the treasury note auctions had the dates for the auctions, thought I would give the link for the schedule again……….here is the treasury note auction schedule. Hope this helps   Love to hear your comments and what you think as well.