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10 year bond spike impact?

30ashopper avatar
SoWal Insider
4,557 views
With the recent spike in the 10-year bond price, I was curious if folks in the mortgage business have seen any changes in lock in rates / applications over the last few weeks? The ten year has spiking considerably recently thanks to a heavy sell off. I read in an aritcle that Jumbos were pushing 8%. Any truth to that?

http://online.wsj.com/article/SB124346921018160569.html

Edited

Replies

32
Lynnie avatar
SoWal Insider
#28
????? Does the whole world want us to be socialized?
Beach Comber
#29
I believe Geithner is over there right now to convince them to continue buying.

I heard on the news today that Geithner was speaking today at a college in China about the Obama economic plan and the students started laughing out loud about his comments.
:lolabove::idontno:
Lynnie avatar
SoWal Insider
#30
Well, I don't know if I should laugh or cry when Communists are laughing at our socialism.
SHELLY avatar
SoWal Insider
#31
Shelly is in Scotland fetching Sean Connery for us. :biggrin:

:wave: I'm baaaa-aack (in the USA--not in FL yet).

Sorry ladies....Couldn't bring back Sean Connery--US Customs has a ban on import of British Beef.

Actually returned with a bit of a suntan from Scotland :cool:

Gotta get caught up on what's happening here in the Colonies.

See ya around campus soon!
gardening1970 avatar
Beach Fanatic
#32
Welcome back Shelly - you were greatly missed!
Lynnie avatar
SoWal Insider
#33
Hey, I just looked at rates again as they've been deteriorating (increasing) all week. Jumbos are still in the 6's, but this product isn't avail in FL - go figure, it's SunTrust Wholesale! I didn't catch that last week when I checked. I will check in the AM and see what FL jumbos are looking like.

I am curious as to other lenders in FL. I know Wells is strong, but lots of changes with them. And, the local banks have added restrictions.

I am hearing purchases in Walton Co. are mainly cash transactions over $450K.

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