Mortgage Rates Rise to 2nd Highest Levels in Over 2 Years

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Posted To: Mortgage Rate Watch

Mortgage rates rose meaningfully today, with most lenders coming close to the highest levels in more than 2 years (on December 1st). Keep in mind though, that my daily assessment puts rate movement under a microscope , so “rose meaningfully” is a relative term. In fact, many lenders are quoting the exact same contract rates today compared to yesterday, with the only deterioration being seen in the form of higher upfront costs (or lower lender credit, depending on the scenario). Even so, there was enough movement to shift the average lender’s top tier conventional 30yr fixed quote up to 4.25% although 4.125% is nearly as prevalent. Today’s market movement had to do with investor anxiety heading into a few challenging days at the beginning of next week. In addition to the Fed announcement on…(read more)

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