US Interest Rates vs World Interest Rates

U.S. interest rates seem very, very low, however they are higher than most other western industrialized nations.  While the 10 year U.S. Treasury Bill is trading at 3% here at home, the same instruments are below 1% in many countries and as low as ½% in a few.

What does this mean to U.S. markets?  A flood of foreign investment in U.S. Treasuries, which means a low 10 year bond, which means continued low mortgage rates.

My buddy, Barry Habib, is projecting a 2% Treasury Bill (possibly even 1.5%).  The end result of this occurrence would be a sub 3% thirty year mortgage triggering a significant refinance boom.

When I entered the mortgage business, upon graduation from college in 1972, mortgage rates were 7.5%.  I can’t think of one other thing, in the world, that has gone down in price like mortgages have.
Amazing!  Simply amazing!