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C IL | Smoke is clearing.
Local secondary mortgage rates are back within 1/8 of a point vs March 9, with the T bill weakness Friday and overnight I am assuming they will drop again tomorrow morning when posted.
10-year T Bill was down to 0.4% March 9, back up above 1%, now back down to 0.7% after hanging around 0.8% for a week. If your rate is based on a single-day index, March 9 still looks exceptional.
If your rate is based on cost of actual funds, Farm Credit Bank shows 5-year money was as low as 0.9% the week of March 9 and is back down to 0.95%. Will see which way the trend goes tomorrow. | |
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