Posted To: Mortgage Rate Watch
Mortgage rates moved quickly back to their recent highs today as investors race to reposition for a perfect storm of risks. The biggest risk is that European bond markets are changing course after the epic run to all time lows over the past year and a half. Even if this isn’t a major reversal, investors are treating it as a possibility for now. That means they’re getting rid of bond market holdings as quickly as possible, which pushes prices lower and rates higher. Because US rates are interconnected with European rates, the selling spree is being felt on mortgage rate sheets at home. Most lenders are back to their highest recent rates, meaning the average conventional 30yr fixed quote is up to 4.0% for top tier scenarios. It’s important to understand that if the current move really does turn…(read more)
Via:: Mortgage Rates Surge Back to 2015 Highs
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