December 28th, 2010 4:11 PM by BILL WILBANKS
We started around 3.32% on the 10-yr treasury and after the 5-yr auction by the Feds today, it jumped to 3.4756% and the price jumps 50 bps on rate sheets as of 3:30 this afternoon which bumped the fixed rates up by 0.125% as of this update. The light numbers of traders and a shortened holiday week is apparently bearing out many forecasters warning to watch for volatility before New Years. Tomorrow brings the third Fed auction of three this week on the 7-yr. So, if you are in the market, getting on our "Rate Watch List" is the best way to have an inside edge to monitor the interday rate ups and downs we are seeing right now folks. This is an absolutely free service to you. We want to earn your business by providing the most customer friendly service possible. We hope you decide to save money this year. We're here to help you do just that.