What We're Hearing

In case you haven't noticed the yield on the 10-year Treasury has been creeping up of late which means mortgage rates should be doing the same. A few months back -- during the darkest days of the economy -- the yield on the 10-year was at 2.03%. Of course, everything looks so much better now -- sort of like the Washington Nationals baseball team. Meanwhile: Earlier this past week the telephones weren't being picked up at Precision Financial, a licensed mortgage banker based in Syosset, N.Y. (that would be Long Island). I tried again on Friday and got an automated recording that switched me over to an operator's extension that put me on hold forever. I also emailed an official at the company but with no luck. Precision, according to its website, has licenses to lend in California, Colorado, Connecticut, Florida, Maryland, Massachusetts, New York, New Jersey, Pennsylvania, and Virginia. Its website boasts that, "High ethical standards and integrity have enabled Precision to grow into one of the fastest rising mortgage bankers in the Northeast." Now, if only they'd answer their phones and emails. Stay tuned…