Posted To: Mortgage Rate WatchMortgage rates were unchanged for some lenders today while others were in slightly higher territory. Either way, that leaves the average lender at the highest levels in more than 7 years. For what it’s worth, there are a few lenders that were slightly worse off for a day or two earlier this year. In terms of outright levels, the average top-tier scenario is being quoted 4.875% today. Why so high? Part of the problem is ongoing . A strong economy is not good for rates and neither is additional government borrowing–both big issues in 2018. Those big issues go hand-in-hand with a Federal Reserve that is more willing to hike its policy rate and shrink its balance sheet. We’ll get a fresh update on the Fed’s outlook tomorrow, and indeed, that could be part of the reason that rates are staging at…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631