"V" is for Volatility, "V" is for Victory

Well, it has been a wild ride... up and down, up and down, seems to be the trading pattern... today is no exception.... yesterday we reached year highs only to lose all gained ground and finish 1 tick down on the day. Today, we're back at highs for the year.

Let's take a look:


Of particular interest and what is primarily helping our market reach these new highs is the the 10 year treasury yield. Represented by the yellow graph, 3.50 is an excellent level for us to remain under. Currently we are around 3.38, which is amazingly low.

The low yield is due to investors flocking to our treasuries looking for security.

If lenders have not repriced for the better yet today they should, and if they don't they are hedging. Tomorrow mornings rate sheets should lead to lower rates. It will be interesting to see how the market opens... if we open with gains, expect the best pricing of the year to come sometime tomorrow. If you're think about locking it makes sense.