Orlando Mortgage Blog

There's a $35 billion dollar 2 year Treasury Auction today and the 10 year passes 2.60% for first time since 9/27. Points have been edging up and if you haven't noticed rates are being drug right along. I don't do it very often, but I disagree with this mornings Rate Lock Advisory by the way that looks for a 0.125% point point drop, at least so far today. Apparently the rate sheets do too so far...Read on...

UPDATE....the Advisor caught up this afternoon and agreed with me. Instead of a forecast 0.125% improvement, it's now a 0.25% worsening on the points today (0.375% swing from their first quote). The average net increase was about 25 BP. I hate to be right when they are going against the team some days.