Mortgage Rates Continue Higher

Mortgage rates moved higher again today, casting a bigger shadow on last week’s improvements. Rates haven’t yet returned to the higher levels seen at the beginning of last week, but they’re quickly closing the gap. Still, the notion of “higher rates” is relative when most lenders are still quoting the same contract rates today vs yesterday. It’s only when we look at the upfront costs (or credit, depending on the scenario) that we see a deterioration. The average lender continues quoting conventional 30yr fixed rates in a range of 3.75-3.875%. When it comes to the road ahead, yesterday’s weakness alone was enough to call last week’s positive trend into question. Naturally, today’s weakness on…
Mortgage Rates Newsletter – Market Analysis

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