Wednesday, February 25, 2009
With mortgage rates about as low as they've ever been, it's time to refinance if you haven't already and if you can. 10-year Treasury yields are already up about 80 bps from their lows, and if they continue to move higher then mortgage rates will be under pressure to rise. Refinancing activity is already well above its historic levels, but not quite as strong as we've seen at other times when Treasury yields dipped to new lows. Undoubtedly this has to do with the fact that many homeowners who would like to refinance can't, because they don't have sufficient equity in their homes.
Posted by Scott Grannis at 8:54 AM