For information about Refinance Rates please be sure to click the link for previous articles.  Refinancing is a task that can be daunting but could save you thousands of dollars.

After many months of an up trending 10 Year Treasury Yield, it looks like mortgage rates are following the treasury notes lead.  Over the past few weeks, the treasury note has surged from 3% to over 3.8%.  This strong uptrend has definitely sent mortgage rates much higher.  Unfortunately, it looks as if the yield is not stopping at 3.8%.  I fully expect the 10 year treasury yield to test 4% before we see any pullback.  This means that rates could hit 5.5% of higher in the very near future.

With rates going up as they are is home loan modification even going to help home owners?  Many home owners have debating refinancing or getting a modification, but if rates are going to continue to uptrend the way they are, there is no point in going through the process if you can’t save at least one basis point on your mortgage rate.  Do you think that the housing market is in great trouble now that mortgage rates are headed higher?