Thursday, January 26, 2023 | The Latest Buzz for the Appraisal Industry

Mortgage Rates Higher, but Still Stellar

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates moved slightly higher today, but remained close to the lowest they’ve been since May 2013. The only day with any lower rates since then, was yesterday. The pull-back was a bit better than random, as we’d just seen our 7th straight day of improvements culminating in the biggest move on the final day. When that happens, it becomes increasingly likely that the next day will send rates back in the other direction. With that in mind, today’s rise in rates was fairly modest–much more so than the pull-back seen after the last similar example on October 15th. Conforming 30yr fixed rate quotes for top tier borrowers are still in the 3.625-3.75% range, though 3.75% is much more prevalent . Even for scenarios with some ‘hits,’ it can still make sense to pay more upfront in exchange for…(read more)

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