When looking at the Universal Mortgage Backed Security prices, aka UMBS, aka bond prices, it is important to understand that UMBS prices and interest rates move in an inverse relationship. The higher that bond prices are, the lower that interest rates will be. The lower that bond prices are, the higher that interest rates will be.

The 10 Year treasury yield and mortgage rates have moved in lockstep since the early 1980's, and is a reliable indicator of the movement of where mortgage rates have been.; If the yield on the 10 year treasury index increases, then that means mortgage rates are likely increasing. If the yield on the 10 year treasury index decreases, then that means mortgage rates are likely decreasing.

Your specific interest rate depends on a number of variables and factors. The property type, occupancy type, investor/lender, loan program, loan type, credit score, loan term, down payment, income, and more can all influence the interest rate you get on your mortgage loan.  For a no-cost, no-obligation rate quote, click Get A Quote and we will be happy to get back to you with an accurate and transparent total cost analysis for your scenario.