I like to update when a noteworthy event occurs. Well, today 10-year Treasury yields dropped to a historical and new low; they will continue to fall until late this year. Negative interest rates (Germany, Japan, and Switzerland, etc.) provoked a rush into the higher yielding U.S. Treasuries, consequently pushing yields lower. We expect yields to reach 1.0% or lower before they make a bottom. This situation will drive US Mortgage rates to record levels, potentially never to be seen again.
