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Mortgage Rates Avoid Adding to Yesterday's Drama

Mortgage rates spiked quickly yesterday, moving up to the highest levels in more than a week and adding an eighth of a percentage point (.125%) to Friday’s latest quotes.  Even on Friday, rates were already arguably in the process of correcting higher from the lowest levels in well over a year.  The speed of severity of yesterday’s spike raised concerns about a broader correction from those long-term lows.  After all, more than 80% of the improvement over the past few months was still intact.  How much more of that would we need to give up before balance was restored?…(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

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