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Originally Posted by KingPriest2
Whenever the Fed changes interest rates it really does not affect mortgage rates
The 10 year bond is a far better indicator
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Nonsense. Immediately banks change their prime lending rate, and everything that is pegged to that benchmark follows suit.
As soon as those other products change the supply of cash available for long term fixed loan vehicles, the prices of the bonds goes down, this axiomatically leads to higher yields.