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Mortgage rates typically rise and fall alongside the 10-year Treasury yield since both are influenced by investor activity in the bond market. Bing Guan/Bloomberg
Mortgage rates increased this week from their historic low. Home buyers and owners looking to refinance shouldn’t expect them to go back down.
Bond yields, which have been increasing steadily since mid-August on hopes for further stimulus and optimism that the economy will rebound once a vaccine is distributed, rose swiftly in the new year, with the benchmark 10-year Treasury yield climbing 22 basis points (one-hundredth of a percentage point) to close as high as 1.15% this week.
Ultrack Systems, Inc.: Ultrack Systems Secures Significant Debt Reduction
Concord, Ontario (Newsfile Corp. - January 14, 2021) - Ultrack Systems Inc. (OTC Pink: MJLB), a total fleet-management GPS tracking and monitoring solution provider, is pleased to announce that the Company has secured a favorable debt reduction with the Company s key funder.
The Company also reached a decisive and favorable settlement with its key funder for a substantial debt reduction of $105,150.00. This was achieved by restructuring the debt in ways that will prevent any dilution through the issuance of Preferred Series A class of shares. The Preferred Series A shares has voting rights of two thousand five hundred (2,500) votes for every share held and the shares are Non-Convertible. This outstanding debt represents the vast majority of the corporate debt and the Company is thrilled to have achieved an approximately 65% removal of the entirety of this debt from off Company books for Q1, 2021.