Mortgage rates¬†haven't necessarily moved higher every day recently. ¬†For instance, yesterday's rates were unchanged versus last Friday's. ¬†But the general trend has unquestionably been toward higher rates. ¬†In fact, rates have only moved lower on 3 out of the past 15 business days. ¬†
While that sort of losing streak sounds fairly unpleasant, the size of the movement has been far from threatening. ¬†Over that same 15 business day time frame, the average effective rate has only moved up 0.11%.Translated to actual "note rates" (the rate applied to your loan balance, without adjusting for upfront finance charges), we're talking about top tier borrowers moving up from 4.0% to¬†4.125%¬†on average.¬†¬†...(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.