Mortgage Rates Continue Pushing Into 1-Month Highs

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Posted To: Mortgage Rate Watch

Mortgage rates rose at a quicker pace today, bringing them up to the highest levels in more than a month. October saw several of the more aggressive lenders get close to offering rates of 3.625% on top tier 30yr fixed scenarios. Those same lenders are all now easily back to 3.875% . Some of them are up to 4.0%. The move up to 3.875% might not seem significant on paper, but the past week has seen rates move up at the fastest pace since early June--itself only one of a handful of similar examples in 2015. The more troubling consideration is that the recent lows now run the risk of being cemented as a longer-term floor. With expectations for a December rate hike from the Fed, longer term rates (like mortgages) will have a hard time committing to any significant move lower unless something happens...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/526439.aspx

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