Posted To: Mortgage Rate Watch
Mortgage rates are having a rough couple of weeks. Yesterday saw rates approach the previous 2015 highs set on March 6th. Today’s rates moved slightly higher still, setting a new 2015 high. The average lender is now quoting conventional 30yr fixed rates of 4.0% on top tier scenarios, though 3.875% is still available in some cases. This is a substantial increase from the 3.625% rates seen just a few short weeks ago. Normally, we’d be measuring changes in terms of closing costs when looking at rates over these periods of time (because the closing cost side of the equation changes every day whereas contract rates can go weeks without moving). On a somewhat ominous note, the economic data that might have helped us today turned out to go mostly unnoticed. The ADP Employment report is an important…(read more)
Via:: Mortgage Rates at New 2015 Highs
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