Posted To: Mortgage Rate Watch

Rising rate headlines are nothing new, but there was a bit of a double whammy this week… or triple, depending on your point of view. Whammy 1: Highest Rates in a Year It’s March 2021, and you’d now have to go back to March 2020 to see higher mortgage rates. It will take mainstream media a while to get caught up with this new reality because the most widely cited mortgage rate survey tends to lag behind sharp moves like this. Whammy 2: It’s Been a Bumpy Ride And that brings us to “whammy 2.” This move has been surprisingly abrupt. Not only have rates risen about as fast as they ever do over the past 2 months, there have also been several false starts where it looked like rates were catching a break only to jump much higher in a single day. Friday was one of those days. The first 4 days of…(read more)

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Source: Mortgage News Daily