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Friday, July 18th. - Stock Trends, Charts, and Commentary

Thinking about doing a refi on your current mortgage?

For those pondering the question, it may not be a bad time to do it.  Here's why ...

This is a chart of the 30 year bond yields (Symbol: TYX).  Mortgage rates follow the 30 year yields with a markup. 

Note that the 30 year yields made an inverted Head & Shoulders pattern.  Technically, that means that the yields have a projected upside target of 53. 

Note that last week, the yields bottomed out and started moving higher.  That set a "higher/low" in place where the yields should start moving up more aggressively now.  The 53 yield target would have mortgage rates move up approximately 2/3's of a percent higher from where they are now.  
(Note: This chart is posted every day on our paid Advance subscriber site.)

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TTT
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