Mortgage Rates Are at Their Highest Levels in Two Years

Who knew?

This is what I wrote on September 12, 2012 in the EPJ Daily Alert:

On a long-term basis bonds we are on the edge of a multi-decade decline. It is simply too dangerous to trade the bond market from the long side---even for a short term trade, when the break comes, it will come at break neck speed.

This is what I wrote on September 22, 2012:

This is an ideal time to buy a house---especially if you can lock in long-term current mortgage
rates.

On Jul 13, 2012, I wrote in the Alert:

Mortgage rates keep falling. The rate on a 30-year fixed mortgage has dropped to 3.56%, a record low — down from 3.62% on July 5. The average 30-year rate has remained below 4% for 16 weeks.

At some point rates explode to the upside. Lock in these rates long-term. You will never see rates this low again.

With selling of bonds occurring both domestically and overseas, rates can climb for years.