Asia's influence on U.S. interest rates

Mortgage market commentary

The interest-rate rocket ride concluded at the middle of last week, the definitive 10-year T-note one night reaching 5.34 percent in Europe — versus 4.6 percent one month ago. The mortgage rate apogee did not quite touch 7 percent.

The 10-year on Friday was trading a hair under 5.2 percent, and I think there are excellent reasons for faith in stability near here, low-fee mortgages about 6.75 percent.