Monday, March 06, 2006

Treasury Action Points to Higher Mortgage Rates

Over the past few trading days, yields on 10 T-bonds have started to move higher and hit 4.72% today, which was the highest intra-day yield since June 2004.


NEW YORK (CNNMoney.com) - Bond prices slipped Monday as investors digested another installment of economic data, pushing the yield on the benchmark note to its highest level in over a year-and-a-half.

The benchmark 10-year Treasury note fell 10/32 to 98-09/32, pushing its yield to 4.72 percent, its highest level since June 2004, and up from 4.69 percent late Friday.

The 30-year bond tumbled 24/32 to 96-20/32, yielding 4.71 percent, up from 4.66 the previous session. Bond prices and yields move in opposite directions.

The five-year note declined 4/32 to yield 4.74 percent, and the two-year note was relatively unchanged, yielding 4.76 percent.

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8 Comments:

Anonymous Anonymous said...

L.S.
your site has some good stuff. i also look at the nnj re blog and grim uses the mls to show price drops and such. since you dont do the same im led to believe the shore prices are not dropping yet. or you dont have access to mls. you seem to be watching the " rumson house" and thats it (price reduction) that is what gives?

Tuesday, March 07, 2006 7:51:00 PM  
Blogger Little Silvered said...

I don't have the access to the MLS data that Grim has. I'm working on a graph that shows the price action at the Shore based on the Data from this report http://www.njar.com/2005Q4.pdf

Here is a preliminary look at Median Prices for the Monmouth/Ocean Area according to this report.

Q4 - 2005 = $394.0k
Q3 - 2005 = $395.1k
Q2 - 2005 = $413.7k
Q1 - 2005 = $358.5k

From this very preliminary look at the data, it appears prices peaked in Q2 2005.

Tuesday, March 07, 2006 8:05:00 PM  
Blogger grim said...

The MLS data I post is not public. The only reason I have the data to post is that I've made friends with a handful of real estate agents and brokers who provide me with that data.

Without them and the data they provide, there would be almost no insight into market conditions in Northern NJ. The NJ Association of Realtors makes aggregate data available on a quarterly basis, however that data is typically released 2-3 months after the quarter ends. Not very useful in gauging current trends.

If I had access to that same data for the shore area, I'd make it available, however the shore area is covered by a different MLS system than Northern NJ (which has three separate MLS systems).

Caveat Emptor!
Grim

Wednesday, March 08, 2006 7:55:00 AM  
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