Mortgage Interest Rates
TNX is an indicator that the mortgage interest rate is pegged to or based off of. Assuming we have peaked at the current mortgage interest rates, given the recent reports of cooling housing market, contrary to the typical summer market trend. This chart is modeling the rate coming down trend based of previous crashes. Helps narrow down a timeline to when we could see interest rates at 5%, 4% & 3%.
Another interesting correlation was the crude oil price and TNX following a similar trend. Not sure what the underlying basis for this correlation is. I am assuming oil prices could be a lead/lag indicator to mortgage rates.
Another interesting correlation was the crude oil price and TNX following a similar trend. Not sure what the underlying basis for this correlation is. I am assuming oil prices could be a lead/lag indicator to mortgage rates.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.