Mortgage rates rose last week, but only slightly. Rate are still hovering near their lowest levels of all-time.
Mortgage rates are artificially right now so even the slightest jolt could cause them to spike. It would be similar to what happened in June 2009 when rates rose 1.125% in just 10 days’ time. Therefore, if you’re shopping for a mortgage and like the rate you’ve been quoted, consider locking in as soon as possible.
Mortgage rates have fallen in 4 consecutive weeks and are on an extended rally that dates back to mid-April. This week, however, data returns and rates could reverse. Especially with inflation numbers are in play.
Last week — again — mortgage rates improved and Freddie Mac is now reporting new all-time lows on three popular, conforming loan products. Here’s what’s in store for *this* week.
Conforming and FHA mortgage rates fell last week, extending a rate rally that dates to early-April. Mortgage rates have fallen to several, new, all-time lows during this period and last week was no different.
Last week, rates fell to all-time lows (again) Thursday. By Friday morning, though, pricing was worsening on profit-taking and in preparation for this week — a week that promises to be heavy on both data and rhetoric.
Despite re-touching all-time lows on Tuesday and Wednesday, Conforming and FHA mortgage rates moved higher on the week.
Market momentum is currently in the rate shoppers’ favor. We entered the weekend with rates falling and they look poised to open Monday no worse.
Market momentum is currently in the rate shoppers’ favor. We entered the weekend with rates falling and they look poised to open Monday no worse.
Conforming and FHA mortgage rates rose for the first time in 5 weeks last week, pulling mortgage pricing off its best levels of the year.
