Posted To: Mortgage Rate Watch
Mortgage rates moved disconcertingly higher again today, despite the fact that underlying market levels actually improved during the day. Guaranteeing rates in such a volatile environment is expensive for lenders. The result is yet another high for 2015. The average lender is quoting conventional 30yr fixed rates of 4.0% on top tier scenarios. Just a few short weeks ago, the average rate was 3.625%. That makes this the most abrupt move higher in roughly 2 years, with the last notable example being the mid-2013 ‘taper tantrum.’ Motivations are different this time around. While much of the media attention is on the prospects for a Fed rate hike, the recent volatility has much more to do with Europe. That’s a rather esoteric and illogical topic for many rate-watchers in the US, but that makes…(read more)
Via:: Mortgage Rates Keep Pushing 2015 Highs
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