As mentioned in the body of the chart, the 10-year TSY Note (currently at 2.38%) is the "key" interest rate used to establish rates throughout our economy, such as mortgage rates. If you are shopping for that "new home," you may want to hurry thae process before rates move higher. I believe that fixed rate mortgages, especially the 30-year type will be a thing of the past, which may occur as soon as 2016. As a matter of fact, a 15-year fixed mortgage maybe hard to find. We are going to see a whole lot of Option ARMs being oringinated by financial institutions, which, of course, are the worse types of mortgages that mortgagees should have in a rising interest rate environment.
Note: To enlarge the chart, double-click inside.
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