Mortgage Rates Are Actually Higher Than You’ve Heard

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Posted To: Mortgage Rate Watch

It’s Thursday, which is when Freddie Mac’s weekly Mortgage rate survey comes out. The survey is the most widely quoted source material for major media outlets. As such, headlines abound about the “highest mortgage rates in 7 years.” Of course, we’ve already discussed these 7 year highs earlier in the week when they actually occurred. And I even pointed out that Freddie would almost certainly be following suit in yesterday’s post . But enough about me. How about those rates?! Well, they’re pretty high , but as far as individual days go, today saw the lowest amount of carnage compared to Tuesday and Wednesday. The bad news is that reality is a bit worse than Freddie Mac’s weekly numbers. Instead of 4.625% (the nearest common mortgage rate to the Freddie survey), the most prevalent quote for top…(read more)

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