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n. Illinois | The 10 yr t-bill is the rate that all mortgage rates are driven by. As it goes higher then all mortgage rates go higher. Every important rate is driven by this rate. The rate ended today at 4.6% It topped out in the fall at 5% but then the treasury decided to sell less long term bonds and more short term bonds because there wasn't sufficient demand for it as the market demanded higher rates. So by limiting the supply they drove the rates down for now. The brilliant minds at the treasury and the Fed do not know how to get out of this problem of their own creation. | |
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10yr t bill
