Please return to Subprime Blogger each morning to get your daily mortgage rates along with the 10 year treasury rate.? The correlation between the two is quite strong and often predicts a strong move in one direction or another.? You have a much better understand of mortgage rate trends when you see the trend of the 10 year treasury rate.? The equation used for the correlation between mortgage rates and the 10 year treasury rate is y = 2.7283(x)^2 + .5881(x) +.0308.

10 Year Treasury Rate – 3.506%
The correlation shows that the 30 year fixed rate should be approximately 5.477%.? Actual rates…

30 Year Fixed Rate Mortgage – 5.25%

This means that either the 10 year will fall soon or mortgage rates will bounce higher to correlate with the 10 year treasury rate.? Only time will tell, for those of you interested, the up to the second 10 year treasury rate can be found here.

Return to Subprime Blogger in the next few days to get this week’s mortgage rate predictions.? I would also encourage you guys to stop by a new website created by a good friend of mine, if you need any financial tips, he is the guy:? Healthy Financial Habits.