Mortgage Rates Explode

 

 

Mortgage Rates Explode Higher!

 

Mortgage Rates Explode Higher. Anything Quoted Before Right Now is LONG Gone If you received a mortgage rate quote any time in the past few days or weeks, unless it was at the end of the business day on Monday, March 14th, you're looking at a relic of a bygone era. Print it out and hang it up in the halls of Woulda, Shoulda, Coulda. It's also not been a good time for rates between inflation, and the Federal Reserve's response. When investors sell bonds, yields/rates move higher. That began happening early today and it continued to happen throughout the trading session. In the very best cases, some lenders are only .125% higher in rate (to put that in perspective, few individual days see bigger moves). The average conventional 30 yr fixed rate is easily up and over 4.25% now, with lenders anywhere from 4.375 to 4.625% depending on the scenario.