Wall Street Expects a New Refi Boomlet As 10-Year Treasury Rate Keeps Falling
January 23, 2004
With the rate on U.S. Treasuries expected to fall further, Wall Street is bracing for a new mortgage refinance boomlet. This week, Morgan Stanley lowered its forecast for rates of 10-year U.S. Treasuries to 4.5 percent by the end of the first quarter, from 4.8 percent.