Mortgage Rates are Actually NOT at 2017 Highs

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Posted To: Mortgage Rate Watch

Mortgage rates are right in line with yesterday’s levels, and yesterday saw rates fall at the fastest pace of the year, ultimately reaching the lowest levels in more than a week. As such, today’s rates are still the lowest in more than a week! You might not know that if you happened to hear about rates today from a big media outlet. Most are reporting the “highest rates of 2017.” Here’s why that’s happening. Freddie Mac publishes a weekly survey that’s generally regarded as the final word in long-term mortgage rate tracking. If you were only interested in long-term trends in rates, the survey would suit you very well. It’s tremendously accurate over the long haul. If, however, you’re interested in day-to-day or even week-to-week movements, the survey numbers can often give false impressions…(read more)

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