Mortgage Rates Highest in 6 Months

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Posted To: Mortgage Rate Watch

Mortgage rates rose again today, adding to a nasty 2-day streak that’s taken the average 30 yr fixed rate an eighth of a point higher. That’s an uncommonly big 2-day move, and it brings rates to their highest levels since early July 2017. Of potentially more concern is the fact that the current rate spike is making an ominous suggestion about the broader trend. Specifically, the last 3 months of 2017 saw rates consolidate in a mostly-sideways pattern. We’d been waiting for a bigger break higher or lower. Although there were some early warning signs that the breakout would be to the upside, this week has all but confirmed it. The implication is for things to get worse before they get better. Loan Originator Perspectives Bond markets’ recent sell-off accelerated today, as oil prices and stocks…(read more)

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