Mortgage Rates Rise Modestly From Long-Term Lows


Posted To: Mortgage Rate Watch

Mortgage rates moved higher today , pulling away from yesterday’s long-term lows. Today’s move wasn’t extreme, by any means. It simply brings rates back in line with those seen on Friday and Monday for most lenders. Specifically, 3.625% continues as the most prevalent conventional 30yr fixed quote for top tier scenarios. There are still a few lenders an eighth of a point lower or higher for a total range of 3.5-3.75%. The Fed released the Minutes from its March 15/16 announcement today. Some investors were looking for signs of infighting between Fed officials over the timing of future rate hikes. Instead, the Minutes painted a more unified picture and ended up having very little impact on the bond markets that dictate mortgage rates. Both stocks and bonds responded to a move higher in oil prices…(read more)

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