August 22nd, 2013 12:28 PM by BILL WILBANKS
Well, with the 10-year treasury hitting 2.92% this morning it looks like most fixed rates are coming out about 0.125% to 0.25% point higher this on the first pricing sheets we're seeing. And...that's even after the employment claims jumped from last weeks 320,000 to 336,000 in this mornings report. Rates jumped on the reduction to 320,000 last week taken as good news and therefore the market assumed adding more fuel to the Fed decision next month to "Taper" their purchases. It went the other way this morning and we sure didn't see a reversal on the 10-year because of the 16,000 increase today did we? Looks like rate increases favor market expectations upwards but not downwards doesn't it? How long can you wait right now? How high do rates need to go before you jump in or give up?