Posted To: Mortgage Rate Watch
Mortgage rates are on the move, heading noticeably higher after a more subtle increase yesterday. With that, this week now stands as the first major push back against the impressive run to near-record lows that’s taken place since the UK voted to leave the European Union in late June. Whereas lenders had increasingly been quoting 3.25% on top tier 30yr fixed scenarios, most have moved back up to 3.375%. Some of the more conservatively-priced crowd is even higher. This is a battleground for mortgage rates at the moment, and it corresponds to levels in 10yr Treasury yields (even though rates are definitely NOT moving in lock step with Treasuries these days). Still, the mid 1.5% territory in 10yr yields is a bit of an inflection point for the overall rate market, and general trends in the overall…(read more )