Bonds of all flavors are seeing rising yields this morning as fewer people filed for unemployment last week than since any week in the last 15 years. At the same time, employment costs have risen 2.6% since this time last year. That is in large measure due to the Affordable Care Act, yet another ironic title to a government program.
Much of the upward pressure on our mortgage rates is coming from rising rates on foreign debts, particularly from Germany, where the 10 Year has risen from .05% to .35% over the last week. Prepare for higher interest rates ahead.
