Basically the fundamental question that many people always ponder have to do with tracking mortgage rate movements. That is, what is the best index to track the movements of mortgage rates. As you know, there are so many programs out there, it is a loaded question and difficult to answer. Many people do not even know that lenders send out rate sheets all the time, espcecially when bond yields are moving.
I have to admit the question was somewhat selfish in nature as I have been looking for myself lately.
So what index would you advise people to look at in order to get a general idea which way mortgage rates are trending. The 30 year bond?
Also yes I am in total agreement with you regarding the qualification process. Unfortunately it is about 5 years late in coming but better late then never. In the end it will lead to a financially healthier brand of homeowner barring a major recession and substantial loss of jobs, (which of course could very well happen)…
