Charting the Rapid Rise in Mortgage Rates. 4.75% Still Best Execution

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Posted To: Mortgage Rate Watch

Mortgage rates shot higher this week. The new "best execution" par 30 year fixed mortgage rate has jumped firmly up to 4.75%. We have offered several different explanations for rapidly rising rates. In the end it comes down to a confluence of factors that have been greatly exaggerated by apathetic investor attitudes as we head into year-end on Wall Street (we explained in THIS POST ). To illustrate the speed and scope of this spike I have created a mortgage rate chart using my loan pricing model. On this graph you will see four different colored lines. Each line represents a different 30 year fixed mortgage note rate. The numbers on the right vertical axis represent origination closing costs as a percentage of your loan amount. Also notice the dark black horizontal line at 0.00. If the note...(read more)

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Source: www.mortgagenewsdaily.com

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