Prime time for refinancing as bond yields hit new lows
The 30-year Treasury yield fell to 5.731 percent the lowest since 1977, signaling cheaper mortgage rates and a surge in refinancing demand. Bank officials in Lawrence report a wave of inquiries and expect refinancings to dominate mortgage business in coming months. Mortgage Bankers Association data show about half of loans are refinancings, up from 20 percent.
MENTIONED IN THIS ARTICLE
Federal Reserve
Alan Greenspan
Treasury
Chris Bloxsom
University National Bank
Lawrence
Chris Forbes
North American Mortgage Co
Forbes
Mortgage Bankers Assn
Bond Yields Fall As Mortgage Rates Track Treasuries
The article explains that mortgage rates move with the Treasury 30-year yield, which has trended to all time lows recently. Over the past two years, both yields have shown a close, inverse relationship with occasional divergence, influencing home loan costs and market borrowing.
MENTIONED IN THIS ARTICLE
Treasury
Why is this happening now
The article explains bonds rise and rates fall due to a flight to U S government backed securities amid Asia’s crisis. It notes slower Asian growth easing U S inflation, pressure on prices, and potential deflation risks. It discusses refinancing decisions, costs, and tips including rate comparisons and loan term changes.
MENTIONED IN THIS ARTICLE
U.S
Asia
Chris Forbes
North American Mortgage Co
Lawrence
United States
Federal Reserve
SBC to Acquire Southern New England Telecommunications
SBC Communications Inc plans to acquire Southern New England Telecommunications Corp for 4.4 billion in stock, expanding beyond its Texas base. The deal values SNET at about 65.83 per share, with a 33 percent premium, and targets completion by year end pending approvals.
MENTIONED IN THIS ARTICLE
New Haven, Conn
SBC Communications Inc
Southwestern Bell
Southern New England Telecommunications Corp
SNET
SBC
Connecticut
Jeffrey Kagan
San Antonio
Pacific Telesis
Texas
California
Oklahoma
Kansas
Missouri
Arkansas
Nevada
New York Stock Exchange
Market and livestock prices from Midland and Omaha reports
As of Monday close, grain bids from Fanner's Cooperative and Midland Elevator show wheat at 3.07 to 3.10, soybeans around 6.43 to 6.48, milo 5.71 to 3.77, corn 2.31 to 2.46. Livestock quotations from Dodge City and Omaha reflect mixed demand. steers 60.35 at 1,229 lb in Kansas, cows 30 to 38, hogs around 37 to 41, and cattle futures steady or modestly lower amid holiday quiet, with reports of reduced slaughter and altered boxed beef values.
MENTIONED IN THIS ARTICLE
Fanner's Cooperative Assi
South
Milo
Midland
Wilo
North
Interior
Awa
Also Mentioned on This Page
Richard Brack
Joureau
Worno
Ers
Agat
Starr
Smart Money Magazine
Smartmoney.com
FinanCenter
Bulls
Wall St
Bestfoods
Exchange
Wall Street
Dow
SW Bell
New England
Bell Atlantic
Maine
Virginia
Dodge City
St. Joseph
Joseri
Omaha Livestock
Omaha, Neb
USDA
Omaha
New York
N.Y
Alice
Rmanthy
Financial Advisors
Suite
Peggy Johnson
Ottawa
Neosho County
Community College
MW Sr
Nees ET Services
Salina, KS
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