Which means mortgage rates will be on the move sooner than later. How long is the lag between the 10 year yield moving and the mom and pop seeing if from a mortgage banker,"oh sorry remember that rate I quoted you"?  "Now it's 50 base points higher"!

  You get lender fees out in the morning between 10:30am - 11:00am rage sheet that came out from lenders. So here's the thing though that mortgage lenders won't tell you once they get to a level if the markets not moving so much their not going to come down on that level their going to stay there. Because moving that rate it's expensive to them, it cost them in time and in money!

  How volatile has the 10 year have been?  How volatile do mortgage rates tend to be in part because we know a lot of the banks warehouse. They buy big lines of credit and then offer it out to there customers. How volatile is this market? It's very volatile following that 10 year and we've seen that over the past couple of months. It's where the lenders watch the rates where they expect the rates to go and that factors into it. It's not just about that 10 year rate either. it has a lot to do with what the banks have, what they can lend. What smaller mortgage lenders can afford to do. It's a calculation of the particular borrower. When we say 4.25% looking at the best possible rate for the best borrower.