Mortgage Rates Hit Highest Levels Since Last Monday

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Posted To: Mortgage Rate Watch

Mortgage rates continued higher for the third straight day on Wednesday, bringing them back above levels last seen on Monday, February 25th. Today's move was slightly more brisk than the previous two sessions, as US bond markets were under pressure from both the overnight trading in Europe as well as stronger employment data this morning. Best Execution rates for 30yr Fixed, Conventional loans continues to be 3.625% and today's weakness makes that more uniformly true (as some lenders were approaching viability at 3.5%). That said, 3.5%-3.25% are available, but borrowing costs for those rates have increased more than for 3.625 and 3.75%. ( What is A Best-Execution Mortgage Rate? ) With rates at their best levels in over a month last Friday, and considering the longer term pattern of weakness...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/298938.aspx

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