Steve and Lisa's Mortgage Morsels

Mortgage interest rates generally follow the 10 year US Treasury rates which are influenced by overall economic conditions. For example, the financial crisis in Europe creates a flight to safety resulting in the purchase of US Treasuries which lowers their yield and as a result mortgage rates decrease. Conversely, once the financial community feels that the crisis is no longer an issue , money will flow out of Treasuries into riskier investments and as a result interest rates will increase. Generally, favorable economic news has the effect of increasing interest rates and unfavorable news or conditions will lower rates.

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