Rates did not rise.
At the end of last year, with the 10-Year Treasury yield bouncing between 3.7% and 3.9%, experts agreed it was an artificial low created by the Federal Reserve purchases of long term Treasuries.
Anticipating the selling-off of this large horde, Bank of America, Merrill, Goldman Sachs, J P Morgan and Morgan Stanley were forecasting rate increases, by now to the 4.25% to 5.5% range.
The 10-year Treasury is currently trading in the low 3% range.What happened?
P-ortugal, I-reland, G-reece, S-pain?
The Euro sovereign debt crises and the lack of anywhere else besides gold as a store of value, makes the dollar the best of the bad.
This will not last. If you can get a loan, lock in these low rates for as long as possible.