Rising Rates

The yield on the Ten Year note has risen to 4.68%. This is about the same level as the second quarter of 2002.


Click on graph for larger image.

For the Ten Year, I plotted today's yield as Q2 2006. This shows yields on the Ten Year are close to Q2 2002 and probably means mortgage rates will rise next week close to Q2 2002 levels.

It will be interesting to see if the MBA purchase index shows another decline in activity.