Mortgage Rates Highest in More Than a Month

Posted To: Mortgage Rate Watch

Mortgage rates are higher again today, with the average lender now back to levels not seen since May 16th, 2017. Unless you've been following every little day-to-day change in rates, the apparent drama over the past few days is laughable. In the worst cases, some borrowers are now seeing rate quotes that are an eighth of percentage point higher than those seen on Monday morning. This comes out to $14/month for every $200k financed, but it can be more than a thousand dollars in terms of upfront costs on the same loan amount. There are quite a few news stories out there today talking about the "lowest rates of the year." Don't be fooled. These stories are based on a press release from Freddie Mac's weekly rate survey. While the survey is very accurate over time, and highly regarded for decades...(read more)

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