1. Daily Economic Update
 The Ten Year Treasury yield has been well under 3 percent for the past few months, down
from the 6 percent range in 2000 and the 4.5 percent range in the 2004-07 time frame. As
a result of declining interest rates mortgage rates continue to be exceptionally attractive in
comparison to historical experience.
 The major unknown-unknown on the interest rate scene is the Irish debt crisis. If the
crisis worsens or spreads to Europe in general, then credit available for private
mortgagees--including jumbos, commercial real estate, and real estate development—
would be very adversely impacted.
Produced by NAR Research
November 22, 2010