US Mortgage Bonds Hit Six Months Low

President Obama’s plan to allow millions of underwater homeowners to refinance their mortgages will have a mixed effect on the mortgage market in particular and the economy in general.

It’s not even clear if this move will stimulate the economy. That depends on if the refinancing plows more money into the economy than it takes away in reduced bond yields.

Meanwhile, U.S. bond yields fell to their lowest level in six months and mortgage interest rates seem poised to jump half a percentage point.


About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (, he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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