Interest rates remain flat despite increase to bond yields.
Normally 30 year fixed rates are tied directly to the movement of the 10 year treasury bond. But, over the last month rates have remained flat even though yields are increasing.
What does this mean? Most likely it means that rates are being pushed down by other economic factors and it’s probably wise to lock in a rate now. Rates are bound to rise. The trend in the 10 year bond yield is a good indicator that interest rates will increase.
Today you can still find conforming rates below 4% with 0 points origination fee but that will likely change in the near future.
However, interest rates often drop during the last month of the year as market activity decreases. We may see one more drop before rates start to increase into 2018.
To discuss your private scenario please email Mitch@TargetRate.com