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Another day of sideways movement from the 10 year treasury rate on Monday.? I fully expect this to continue until the 50 day moving average moves up to the current rate or the rate drops and finds strong support at the 50 dma around 3.4%.? When this happens, watch out for another strong push towards 4% for the 10 year which means higher mortgage rates.? 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 – 3.52%
The correlation shows that the 30 year fixed rate should be approximately 5.48%.? Actual rates?

30 Year Fixed Rate Mortgage – 5.34%