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Strategies & Market Trends : Strictly: Drilling II
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To: SliderOnTheBlack who wrote (20369)10/17/2002 1:20:43 PM
From: Michael July  Read Replies (1) of 36161
 
Slider, have we seen the top in bond prices/low interest rates for this cycle? Seems to me we have. Looking at a chart of the 10-yr Treasury we've had 3 days of gap opens which have not been filled. I suspect there will be some backing and filling over the next few months but wonder if we will ever pierce the top put in place. What are your thoughts?

I ask these as we are about to lock in on a 30 yr mortgage rate on a new home....and I've suspected the 6% 30 yr rates were as good as they would get. Today, they are at 6 1/2%. They went up 1/2% in one week!!!! Thus the bubble has burst. Since our new home won't be finished till the end of February we can either "float" the rate till the 90 day lock in period or "buy" for 1 1/4% a lock in for 180 days out. Seems to me I'd be gambling in a now volatile bond market and may not be able to do better than 6 1/2%. Anyone have a thought on a real-life question? TIA.
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