How to Monitor Mortgage Rates
Many Are Shocked When They Learn What Really Drives Rates

Many people base their knowledge of what mortgage rates are based on what they see in the newspaper, TV commercial, an Internet banner, a sign at the local bank, etc.... It seems like mortgage rates are everywhere. Unfortunately, by the time a newspaper gets printed, a sign comes back from the sign shop or a television commercial is recorded and aired...mortgage rates likely have changed several times. Rates change daily and often times can change several times during the course of a day.

If you or anyone you know might be interested in entering the mortgage market...and you want to "time it just right" to get the lowest rate possible, be ready to do a little homework. One of the ways I monitor how mortgage rates are trending is by watching the 10 year Treasury Yield. When the "10 Year" yield drops for a day or two, mortgage rates will typically follow. When the "10 Year" yield increases, rates usually move immediately. There is no crystal ball. Nobody knows for sure if and when rates will adjust...and in today's environment, they can adjust based on a number of economic factors. Click Here if you wish to view a chart that lists various treasury yields for different maturities, including the "10 Year".

If you are feeling really ambitious, you can click here to see where average mortgage rates have been over different periods of time.

Whatever you do, when you enter the mortgage market, make sure you work with an experienced professional.