The US 10 year bond is an indicator of mortgage interest trends in the United States. Geithner's Treasury department will sell 60 Billion of 10 year bonds this week, but the US Dollar isn't the only game in town. Investors are starting to believe that the sky isn't actually falling, and they have other options.
10 Year bonds in other currency denominations are looking for buyers too. The yields in these two daily charts from Bloomberg.com show that Geithner and company will have to pay more to attract those buyers, or they won't be able to sell the bonds.
What does that mean to you and me?
At the same time that your home value is falling, interest rates are rising again. That's a problem for individuals who are focused on the promise of cheap money in the mortgage markets. Eroding home values are the greater danger to your ability to refinance your present loan.
Call me if I can help you with a purchase or refi mortgage;
charts courtesy Bloomberg.com