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Investors scaled back expectations for how far and how fast interest rates would be cut.
Five months ago, Nathan's monthly payment stood at £790, demonstrating just how far, and fast, interest rates have fallen.
The details of the argument are complicated, but it boils down to this: last year, Fannie Mae underestimated how fast interest rates would decline and homeowners would refinance their mortgages, Mr. Kam and others say.
The key determining factor is how fast interest rates will rise in the future.
That pushed yields to their highest levels in more than seven years, a sign that investors are unsure how high and fast interest rates will rise.
Similar(55)
The greater the stimulus, the faster interest rates are likely to rise.
If inflation rises next year, the Fed would probably respond with faster interest rate increases, which have tended to cause markets and the economy to choke in the past.
But while the latest figure was not as high as in previous months, analysts said that was not a bad sign, since faster growth could result in faster interest rate increases.
But if history is any guide, he's not likely to favor faster interest rate increases.
Some of the causes were external (Markwick tells a 'tale of fast growing interest rates, devaluation … investment revenue had slumped'), but some were not.
By and large though, the papers seem to be fast losing interest in what the left will no doubt one day call the "August days".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com