Rate Update 10 year Treasury Notes

Ten treasury notes sold off after the English Pound was downgraded from AAA and note buyers noticed that the United States was running a little account deficit.

Ten treasury note rates moved swiftly up from the 3.15% to 3.45% in just a few days. This came after PIMCO's Bill, stated that U.S. debt could be downgraded from AAA.

Even with 30 basis points increase in treasury note rates, commercial apartment refinances rates stayed relatively steady with lower spreads, resulting in rates in the high 5% range. FHA apartment and lean construction loan rates still are suffering unbearable spreads of about 350 basis points leaving rates at about 7%.

Hopefully PIMCO will find a buyer for the next round of notes.