Quote:
Originally Posted by Reaper
All I know is that my mortgage is up for renewal in 2 months and that 50 point drop is going to help my rate.
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If you're going to go with a variable/adjustable rate, then yes it will help your rate. If you're going with a fixed rate, bond yields are actually up since yesterday, and up almost 30bps since the end of September. Fixed rates have actually been going up recently as they go as the US 10 year treasury goes.
Fixed rates aren't going to continue to go up, so timing is everything when locking in a rate. Essentially what's happening is the US is coming out with their jobs report stating "look how many jobs we've created!", only to revise it later on, as they didn't really create that many. Most revisions in US history in 2024. Election in November.......
Bond yields are an absolute roller coaster right now.