"Treasurys are up because they are still the flight to quality instrument despite what S&P says," said Thomas Roth, executive director in the U.S. government bond trading group at Mitsubishi UFJ Securities (USA) Inc in New York, according to a report by WSJ. "All that has occurred is more uncertainty which drives money out of risk assets." >> More
Since mortgage rates are typically linked to the 10-year treasury note they most likely will continue to drop further. The 15-year fixed is already at historical lows.
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