For folks on the front line in the mortgage industry, below is a chart that might help you in discussions with prospects, clients, and partners.
The 10-Year Note is not where mortgage pricing is derived, but you can show how fast long-term rates can tick up. In the past 7 years, each of the previous two times the 10-yr yield ticked down to 1.40% or lower, rates shot up rather quickly.
Many are expecting lower rates next year and possibly all-time low rates and it could happen if things get worse. What if they don't?
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