• 651 days Will The ECB Continue To Hike Rates?
  • 652 days Forbes: Aramco Remains Largest Company In The Middle East
  • 653 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,053 days Could Crypto Overtake Traditional Investment?
  • 1,058 days Americans Still Quitting Jobs At Record Pace
  • 1,060 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,063 days Is The Dollar Too Strong?
  • 1,063 days Big Tech Disappoints Investors on Earnings Calls
  • 1,064 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,066 days China Is Quietly Trying To Distance Itself From Russia
  • 1,066 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,070 days Crypto Investors Won Big In 2021
  • 1,070 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,071 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,073 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,074 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,077 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,078 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,078 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,080 days Are NFTs About To Take Over Gaming?
Tesla Struggles To Compete In European Market

Tesla Struggles To Compete In European Market

Tesla continues to catch the…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

  1. Home
  2. Markets
  3. Other

Will Those Low Mortgage Rates Start to Rise Now?

Update on: Mortgage rates at a 50 year low?

Last week, we wrote about the decade lows on Mortgage rates. We had mentioned that the 30 year yields (TYX) had tested and held our 38.34 support level ... and that: "a very large positive divergence had developed at the same time this support is being tested ... The timing suggested that there was a real possibility for 30 year yields to jump up from that level." Additionally, we had commented that: "With talk about eliminating 30 year mortgages going around, this might be a missed opportunity if not acted upon by new home buyers." (* See Chart 1 for last Friday, and Chart 2 for TODAY.)

Well, here we are one week later to explore what has happened ... see Chart 2.


Chart 1: Last Friday's chart ... July 2nd.

TYX Hourly Chart July 2/10


Chart 2: Today's chart ... July 9th.

As expected, we did get a jump up from the 38.34 support level and the jump took us to the April/July resistance line where it will test it today. At this time, we expect the 30 year yields to break above that 3+ month resistance and to see 30 year mortgage rates increase. There has been no basing on this chart yet, so there is still likely more work for the TYX to do in order to develop a solid support for the upside ... but for now it will be getting help from a pretty strong positive divergence.

TYX Hourly Chart July 9/10

 

Back to homepage

Leave a comment

Leave a comment