Mortgage Rates Hit New 2015 Highs

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Posted To: Mortgage Rate Watch

Mortgage rates were already hovering near 2015 highs as of yesterday. Today's spike sent them easily above the previous annual high , set on June 10th. Normally, day to day market movement isn't big enough to cause a change in the actual contract rates being quoted. In other words, it's usually the upfront costs (or rebate) that's changing for any given rate. Today's movement was enough to make a new contract rate more prevalent when it comes to conventional 30yr fixed loans for top tier scenarios. While there still are plenty of quotes going out for lower rates, 4.25% now takes over as the most common. But wait... Didn't Freddie Mac just yesterday announce it's weekly rate survey showing 4.02%?! Indeed they did, and there's no reason to doubt the long term accuracy of those numbers, but there...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/482830.aspx

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