Greenville Mortgage Rates Spike Higher
This week has seen a sharp spike of the 10 Year Treasury Note beyond the perceived technical ceiling or resistance of 3.0%. This is the first time since Jan 2014 that the 10 yr treasury eclipsed the big 3.0% mark. For those who don't know, 10 Year Treasury Notes are the basis in part for mortgage rates. Was the move a total surprise? Maybe not, Analysts at Citibank predicted this move back in Feb 2018. Perhaps the move was a matter of when and not if.
Regarding the 10 Year Treasury Note, analysts at Citi predict the the number to be concerned with is 3.05%. A break above this, on a monthly basis, could be very significant. The next technical resistance levels would be around 3.14 or…