Treasury at Record Low, Did You Think of Refi? Terrible job report is what we have to live with but what we can do is look for something relatively safe. So the flight to safety trade continues. 10yr Treasury yield dropped to as low as 1.43 today and now sits at 1.46. That is unbelievable; think about it, several years ago, if any manager told you that one day the 10yr yield would break 1.5, you probably would have him or her dismissed. Same thing on the 30yr Treasury yield, record low at 2.52%, which brings me to the key question: is now the best time to refinance your mortgage? The short answer is yet because rates have never been this low. But do handle the process carefully. Do expect your refinance to take 60 days or longer to close, compare to 30 days before the housing crisis. Also banks might experience a logjam given the expected spike in applications, so do make sure to lock in the low rate even if the process takes longer.
