Mortgage Rates Rise to 4-Month Highs

If you want to see higher 30yr fixed mortgage rates, you’d have to go back to November 9th, 2022 after today.  To be fair, that’s been true on several occasions recently as rates jumped somewhat abruptly in response to February’s economic data. It was economic data yet again that put upward pressure on today’s rate offerings.  Thankfully, it wasn’t the most important data in the world (inflation reports in Germany and an inflation indication in a report focused on the manufacturing sector in the US).  The catch is that we don’t know if we’ll see similar indications from the super important economic reports set to release in the coming days and weeks.   The Fed has been telling us that rates are highly “data dependent.”  The market increasingly believes that mantra unconditionally.   The average mortgage lender is back in the high 6% range with more than a few lenders over 7% again for top tier scenarios.  
Source: mortgagenewsdaily.comNew feed