After a very slow month of July Cheap NFL Jerseys , average mortgage rates have expanded the range of 5.1% to 5.3% out to 5% to 5.5%. It seems that every single time we hit one of these levels, home loan rates bounce back and move all the way to the other end of this trend. Is this likely to continue?


The answer seems to be an astounding yes as every single time Bank of America mortgage rates get to 5.5% the government jumps in and makes another speech about how overall rates are going to remain at historically low levels. This pushes rates all the way back down to 5% until the markets realize that this is way too low. The 10 year treasury rate yield then begins to uptrend which causes overall rates to move higher once again. The process has gone on several times throughout the month of August.


This is likely to change though as the Federal Reserve Bank has announced that it is going to stop buying US Treasuries by the end of September. If this actually happens, it could be the case that the market will actually set rates. From the looks of it Cheap Jerseys China , if the market did set rates, we would be seeing the 30 year fixed mortgage rate move its way towards 6%. This would not be good for those who want to refinance or buy their first home but it seems to be reality.


Bank of America mortgage rates have been in a tight range between 5% and 5.5% for almost two months now. Every time we see average mortgage rates drop to near 5% there is a strong increase in the 10 year treasury yield which sends rates much higher. As soon as mortgage interest rates get close to 5.5% the Federal Reserve Bank makes it a point to announce that they are going to do whatever it takes to keep rates near historic lows.


After the Fed speeches, rates drop all the way back down to 5% until we repeat the process. This has been happening since the beginning of July and it looks like it is going to stay that way until the end of September 2009. At the end of September 2009 the Federal Reserve Bank plans to stop buying US Treasuries altogether. For the last eight months Cheap Jerseys , the Fed has been buying up treasuries to help push interest rates lower. Now that they are stopping this, it will be very interesting to see how treasury yields react.


If treasury yields react the way that most people think, we are going to see a strong run up in the 10 year treasury rate yield which will bring mortgage rates right along with it. The 10 year yield was in a strong up trend for much of 2009 but it seems to be waning lately which has been one of the main reasons that the 30 year fixed rate mortgage has stayed relatively low. That might not be the case for much longer.


If you were a parched traveler in the middle of a hot desert looking for water Wholesale NFL Jerseys Shop , you can imagine what a welcome sight a lush oasis spotted in your path just up ahead would be. That is exactly how jaded bank customers who have been paying too much money in overdraft fees to their bank each month feel when they find a no-overdraft-fee bank: a sense of pure relief.


Gordon is a student and a writer for various financial blogs. He hopes to one day run his own financial services blog


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Investing in Nevada Foreclosures ? A Golden Opportunity for Home Buyers Business Articles | July 16, 2010
When it comes to looking for viable investment options in the real estate sector, Nevada foreclosures offer a golden opportunity for home buyers. Ranked as one of the most flourishing real estate hubs...

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