mortgage rate lock?

[scalf]

[img]/images/graemlins/grin.gif[/img] actually, key thinking ray; them bankers are like casino owners; they present propositions that are in their favour..

my guess is rates will not go up until after the election; but

if i could call interest rate changes consistently; and accurately:

would i be here??

lol

gl

[img]/images/graemlins/smirk.gif[/img] [img]/images/graemlins/mad.gif[/img] [img]/images/graemlins/wink.gif[/img] [img]/images/graemlins/club.gif[/img]

[adios]

Let's keep in mind that the bond vigilantes control the yield curve from 2 years on out and the Fed determines rates from 0-2. Thus mortgate yields are a function of rates from 2 years on out and are more out. When Fed governor Bernacke made some noises about the Fed interrupting it's measured pace of Fed funds rate increases the 5 year and 10 year treasuries actually declined in price/increased in yield. Bernacke's comments of possibly interrupting the Fed's tightening plan actually triggered a sell of in the bond market. Lots of folks believe that the current Fed funds rate is too accomodative and thus believe that inflation is a risk. Just look at what commodities are doing. I realize that the major component of the price of goods is labor for the most part but it is worth noting the rise in commodities (Ray, scalf and wildbill have pointed this out) and the inflationary threat it presents.