Mortgage Rates Up Against Lender Apathy Heading into Year-End

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Posted To: Mortgage Rate Watch

Mortgage rates had some bad weeks over the past month, but last week was the worst. The "best execution" 30 year fixed mortgage rate has risen to 4.75%. This is a seven month high according to our loan pricing model. To illustrate the speed and scope of recent mortgage rate movements I offered THIS CHART <---SOBERING The economic events calendar is busy in the day's ahead. We get an update on domestic inflation metrics, the much anticipated release of November Retail Sales data, several reports on the health of housing, industrial production, and regional business activity indexes. Plus the political landscape is filled with big decisions, specifically the extension of both Bush-era tax cuts and unemployment benefits, both of which would support consumer spending and the broader economy...(read more)

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Source: www.mortgagenewsdaily.com

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