Posted To: Mortgage Rate Watch
Mortgage rates continued higher today, extending a troubling move up to the highest levels since early March. Normally, movement in domestic interest rates is driven by economic data and inflation expectations. This time around, neither of those quintessential indicators are showing much cause for concern. Instead, it’s European market movements that have done the most to push rates higher in the US for the past 2 weeks. Today, specifically, Europe’s 10yr benchmark continued a 2 week push the highest levels since Mid January! Rates in the US aren’t weakening at the same pace, but are nonetheless being dragged higher. Most lenders are now quoting conventional 30yr fixed rates of 3.875% to top tier borrowers. Some are approaching 4.0% while a scant few remain at 3.75%. As we discussed last week…(read more)
Via:: Mortgage Rates Continue Disturbingly Higher
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