I know there are different ways of following and making predictions on mortgage rates.... Generally from my experience, most people follow the 10 yr note but this isn't always the most reliable indicator.... I am just curious what any other people use to follow the rates. Just interested in seeing what other people find helpful, if they're willing to share or otherwise offer insight. Thanks, looking forward to any insight or comments.
I can only offer perspective on Canadian mortgage rates, but our fixed interest rates are typically tied to GOC Bond rates, and our variable rates are typically tied to the Prime interest rates of the major banks. That is only half of the picture though, as the "spread" between mortgage rates and bond rates tends to vary. I have seen spreads as low as 100 bps, and high as 250 bps or so (assuming "prime" mortgages).