Mortgage Rates Unable to Extend Last Week's Gains

Posted To: Mortgage Rate Watch

Mortgage rates moved back up today after ending last week on a positive note. Improvements in rates have been uncommon so far in 2018. In fact, we haven't seen more than 2 consecutive days without a move higher. In that sense, today keeps the prevailing trend intact. If there's a saving grace, it's that rates didn't quite rise back above last week's highs. If there's a downside (whatever the opposite of a "saving grace" might be...), it's that rates remain in line with the highest levels in more than 4 years. While we COULD see some relief at some point, there's no telling if that would be a legitimate attempt at a ceiling or merely be a temporary correction before another move higher. Either way, betting on the emergence of a ceiling (via floating one's loan as opposed to locking) hasn't been...(read more)

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