Posted To: Mortgage Rate Watch
Mortgage rates are in the midst of a serious move higher . This requires some context though, because not all serious moves higher are the same. In the current case, the serious move takes the most prevalently-quoted conventional 30yr fixed rates up to 3.875% for top tier borrowers, with more aggressive lenders still at 3.75%. Historically, that’s not bad at all. In fact, apart from almost any other time in the history of mortgage rates, being anywhere in the 3’s is excellent. In addition to being historically low, the other caveat is that the ‘serious move’ looks larger because of the recently narrow range. In other words, rates haven’t been moving much for more than a month. Relative to that lack of movement, this week has been rather abrupt , even though it’s nothing too special in a historical…(read more)
Via:: Mortgage Rates Quickly up to 6 Week Highs
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