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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