Mortgage Rates Are Actually Higher This Week

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Posted To: Mortgage Rate Watch

Mortgage rates didn’t move much today, but the average lender is quoting microscopically higher rates, if anything. Week-over-week, it wouldn’t be unfair to claim that rates are slightly lower. Today’s average news coverage suggests the same due to the weekly release of Freddie Mac’s mortgage rate survey. Freddie says rates dropped a whopping 0.05%. While that may be true if we strictly compare Monday/Tuesday of last week to the same 2 days this week (which is essentially what Freddie’s methodology does), we’re currently in slightly WORSE shape (i.e. higher) compared to the end of last week. The best case to be made is that rates have generally been flat, and not much higher than they were last Friday. All that could change tomorrow following two very important economic reports set to be released…(read more)

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