Thoughts on Manhattan property, one of the world's best investments.
Sunday, February 13, 2011
Mortgage rates rising
CNNMoney article - mortgage rates, driven by yield on the 10-year Treasury, is rising because of improving economy and because rates are so low they have nowhere to go but up. The national average 30-year mortgage rate reached 5.05% in Feb 11, breaking 5% for first time since May 2010. Some predict the rate to increase to 5.5% to 6% by end of 2011.