Mortgage Rates Back Near Recent Highs

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Posted To: Mortgage Rate Watch

Mortgage rates reversed course today, heading back toward the higher levels seen earlier in the week. It’s no mystery that rates have been paying attention to stocks and oil prices more than normal and thus not much of a surprise to see rates begin moving higher after stocks and oil did the same. The bond markets that drive mortgage rates were actually stronger in the morning before weakening quickly into the afternoon. As such, many lenders raised rates in the middle of the day, meaning quotes from yesterday afternoon or this morning would no longer be available. Despite the near-term volatility, nothing is being decided in the bigger picture. Rates continue to operate well under 4% for top tier conventional 30yr fixed scenarios. And while they’ve approached a sort of crossroads level of 3…(read more)

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