On the days that the market is closed, I will try to provide additional educational content regarding Mortgages and how best to utilize them for better overall financial health.
I am often asked how the mortgage markets work and how do I know what is going to happen next. This is a great question and prehaps many of you who read my notes daily (thank you!) think the same thngs to yourselves.
The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see the 10-Year Treasury and Mortgage Bonds move in completely opposite directions. So if you are watching the 10-year Treasury and thinking that mortgage rates should be moving (up or down) and they are not, well now you know why. Also, if you happen to talk with your mortgage loan officer and they mention the 10 year treasury as the tool to watch, well you just might want to seek a 2nd opinion.
Look for more blogging on the ins and outs of mortgage markets soon and what it all means to you and your mortgage . In the meantime, I hope you have a FABULOUS rest of your day and a great rest of your weekend ahead. If there is ever anything that I can do for you, please let me know.
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