Mortgage Rates Highest in More Than 2 Weeks

Posted To: Mortgage Rate Watch

Mortgage rates moved moderately higher again today, as investors continued digesting the possibility of a "taper tantrum" in Europe. The US version of the taper tantrum occurred in 2013 when the Fed began signaling its intention to buy fewer bonds. Fed bond buying was a key motivation for the all-time low rates seen in 2012. Early yesterday morning, the head of the European Central Bank (ECB) made comments that led some investors to believe Europe was nearing its own showdown with tapering. The ECB responded this morning by telling markets they've got it all wrong and that the original comments were intended to be "balanced." While that did help bond markets recover somewhat, it wasn't enough for mortgage rates to move appreciably lower. The average lender is once again quoting 4.0% on top...(read more)

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