Mortgage Rates Jump Back To Recent Highs

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Posted To: Mortgage Rate Watch

Mortgage rates are sharply higher today, as global markets abandoned bond market holdings at the quickest pace of the week. When investors favor selling bonds vs buying, prices fall and yields--or interest rates --move higher. Even before the domestic trading session was underway, bond yields were much higher after Asian and European trading. This led to the secondary mortgage market starting the day off at the worst levels in over month. Underlying markets attempted to bounce back from the weakness in the middle of the day but didn't even make it back to yesterday's worst levels before being pushed right back down. The net effect for mortgage rates was lender rate sheets in their worst territory in over a month and an increase in the prevailing Best-Execution rate (30yr Fixed, Conventional...(read more)

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