Just about every day in our Capital Market Updates, we talk about Treasury auctions, bonds, and bills, as part of our Mortgage News. But unless you have a background or enormous interest in economics, chances are a lot of this can be confusing. For example, what’s the difference between a bond and a bill? Why are auctions necessary and who buys these bonds? What does this do to mortgage rates, and how does this apply to me? Well, here are answers to those questions and more.

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