Mortgage Rates Top 4% in Test for Housing
Mortgage rates extended above the 4% threshold last week in concert with an increase in the yield on on the 10 year treasury. Investors are demanding high yields on the 10 year treasury as they anticipate an increase in the Federal Funds rate. Time will tell what impact these higher mortgage rates will have on the housing market, but clearly they will increase the cost of borrowing, which in turn will have an impact on housing prices. To read the entire article, please CLICK HERE
