Credit Market Indigestion?

Big jump in rates today: from 4.75% to well over 5%. That may not seem like much, but in the mortgage market, that’s like a 250 point drop in the stock market.

The explanation? Apparently, a not-so-successful U.S. Treasury auction, which mortgage rates key off of.

Maybe borrowing a couple extra trillion is starting to create indigestion???

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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