insert teeth-gnashing here

[lumberjim]

Originally posted by xoxoxoBruce
What makes you think they will go down, Jim?

the rates, they rise......


"Treasuries and Mortgage Rates
Yields on 10-year and 30-year Treasury securities are typically used to set long-term mortgage rates. Loans with short initial terms (1-, 3-, and 5- year ARMs, e.g.) are pegged to shorter-term securities. So when bond yields drop, typically, conventional mortgage rates fall as well. Conversely, when yields rise, so do mortgage rates.
Why? If a lender chooses to sell your mortgage loan to an investor, the lender will likely use Treasury yields as a benchmark for value."