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Mortgage Rates Surge 0.125% Higher

Mortgage rates spiked quickly today, capping a 3-day run leading back up from the lowest levels in more than a year.  Today’s move was by far the biggest and it leaves the average lender offering rates that are at least an eighth of a percentage point (0.125%) higher compared to most of last week. 
Part of the reason for the size of this move is the size of the move in the other direction over the past two weeks.  For instance, compared to 2-3 weeks ago, the average lender is quoting rates that are still an eighth of a point lower.  In other words, the bigger the rally, the bigger the potential bounce….(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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