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Created: 06/05/2015 at 12:47 PM Updated: 26/06/2017 at 6:40 PM

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Mortgage Rates Quickly Approaching 4.5%

Don't believe anything you read about mortgage rates today... well, except this. In fact, you're welcome to believe anything you read as long as it acknowledges the fact that rates have risen nearly a quarter of a point from last week, pushing them well into the highest levels in more than 2 years.  The average top tier conventional 30yr fixed rate is quickly approaching 4.5%.  Nearly every lender that was at 4.125% last week is now at 4.375%.  Lenders who were at 4.25% last week are mostly up to 4.5%.  
The overall spike in rates since the election is now on par with the 2013 taper tantrum.  You'll hear time and again "don't worry... rates are historically low..." and my personal favorite "for every .125% in rate, the payment only rises $7 per $100k borrowed."  All of that is true, except perhaps for the "don't worry" part.  Some borrowers may need to worry about no longer qualifying due to debt-to-income guidelines.  ...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.[img]http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=688779
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#Posted on Friday, 16 December 2016 at 2:02 AM

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My archives (161)

  • Mortgage Rates Surge Past 2-Year Highs...
    Mortgage rates skyrocketed...
    Thu, December 15, 2016
  • Mortgage Rates Steady-to-Lower Ahead of...
    Mortgage rates started stronger out of...
    Wed, December 14, 2016
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    Mortgage rates were mixed today,...
    Mon, December 12, 2016
  • Mortgage Rates Rise to 2nd Highest Levels...
    Mortgage rates rose meaningfully today,...
    Fri, December 09, 2016
  • Mortgage Rates Not Too Troubled by...
    Mortgage rates were only somewhat...
    Fri, December 09, 2016
  • Mortgage Rates Fall Ahead of European...
    Mortgage rates moved moderately...
    Thu, December 08, 2016
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