Here is another fugly looking mustard seed from Bloomberg News:
June 4 — Fixed U.S. mortgage rates jumped to the highest level this year, signaling the Federal Reserves plan to lower borrowing costs has stalled.
Our out of control spending has erased any efforts by the Federal Reserve to maintain low rates in hopes of growing out of this recession.
Treasury yields are climbing as investors anticipate a greater supply of government debt being sold to fund federal spending. The yield on the 10-year Treasury was 3.54 percent yesterday, compared with 3 percent on March 17, the day before the Fed announced its plan to boost mortgage-backed bond purchases and to buy Treasuries.
Bond investors are ignoring efforts of the Federal Reserve.
Yields on the benchmark 10-year Treasury note and Fannie Mae mortgage bonds are higher than they were before the Federal Reserve said March 18 that it would buy as much as $1.25 trillion in mortgage-backed securities to help drive down borrowing costs.
Glad to see my tax dollars at work.
Travis J. Bohling
Brewer Caldwell Property Management
480-212-7041 (Direct Line)
480-212-7042 (Fax)
Travisb@brewercaldwell.com
Valley Sprawl 
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