Mortgage rates moved higher today, but only a modest pace compared to yesterday (read more about yesterday’s rate rout HERE). Over the past two days, the average rate quote for a top tier conventional 30yr fixed loan has risen by an eighth of a percent (.125%). Yesterday accounts for essentially all of the move, making it one of only a handful of days with as much upward movement in the past few years.
Is an eighth of a point a big deal? Only you can answer that. It comes out to about $7/month for every $100k in loan amount. For some, it’s not a big deal, but for others it can make or break a transaction. Either way, everyone can agree it would be a bigger deal if we were to see additional examples of similar spikes in the near future.
So will we?…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed
Mortgage Rates Are Actually HIGHER Today and This Week
Published in bond markets, interest rates and mortgage rates
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