The Fed Held - and the Long End Sold Off [iDLhKWdngkl]
The Fed left rates unchanged, and the long end of the bond market sold off hard. 30-year bond futures dropped 1.1 percent versus yesterday and 10-year note futures slipped 0.46 percent, with the 30-year Treasury yield touching its highest level since 2007. When long-dated bonds sell off, the yields that mortgage pricing tracks climb - upward pressure on borrowing costs. Locked out by a traditional bank in a market like this? Mbanc's Non-QM programs qualify the self-employed, investors, and business owners banks turn away. CTA: DM us to see what you qualify for. 👉 See what you qualify for in 60 seconds: Mbanc | Mortgage Bank of California Inc. | NMLS #38232 | Equal Housing Lender #Shorts