Mortgage Rates Approaching 7% Again
There are some broad rate surveys/indices that show 30yr fixed mortgage rates under 6.5% or close to it, but it's a bit of a mystery as to how such a thing could be justified--even after accounting for the typical lag between weekly surveys and our daily records.
Indeed, most of the past week saw the average top tier rate at 6.625% or higher for the average lender. And as of today, we're painfully close to 7.0% again. To be fair, we were already close to 7.0% on Friday. Most lenders didn't move much higher since then, and many lenders were already there.
As always, keep in mind that we're talking about top tier scenarios with no additional upfront costs due to FICO/LTV. And just because it bears repeating in light of some of the atrocious journalism on the topic, keep in mind
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