The week in real estate rates

Mortgage market commentary

It’s not enough to move low-fee mortgage rates below 6 percent, but the 10-year T-note flinched at 4.5 percent all of last week, and on Friday morning retraced to 4.38 percent.

No data showing economic weakness caused the rate decline: the newest information says the national economy came through Hurricanes Katrina and Rita unimpaired.

Two things have helped long-term rates to find a top: the painful understanding that if the Federal Reserve is not yet tight enough to hurt, it soon will be; and second, unstable weakness in the stock market.

In the perverse world of bond