AgentIndustry News

Real estate loan delinquencies could rock economy

Bond market may be the least of Fed's worries
Published on Mar 17, 2006

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by CareyBot

Two weeks of rates-are-going-to-the-moon concluded in a disorderly reversal late this week. The 10-year T-note fell from its run to 4.8 percent almost to 4.6 percent, which in turn pulled mortgages back from the 6.5 percent brink, now close to 6.25 percent.

The bond market is operating in a Ben Bernanke vacuum. The Federal Reserve Board chairman has thus far not said anything about Fed policy (he will speak on Monday night, content optional), and in a void of that kind the bond market tends to lose its marbles -- descending into complacent snoozing, or panic at shadows ...

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