Mortgage Rates Surge to Highest Levels in More Than 3 Years; 67-Month Winning Streak For Home Prices

Mortgage Rates Surge to Highest Levels in More Than 3 Years; 67-Month Winning Streak For Home Prices

Mortgage rates are in trouble . This will come as no surprise to regular readers. For the past few weeks, rates made several successive runs up to the highest levels in more than 9 months. It was really only the spring of 2017 that stood in the way of rates being the highest since early 2014. After Friday marked another "highest in 9 months" day, it would only have taken a moderate movement to break into the "3+ year" territory. The move ended up being even bigger. From a week and a half ago, most borrowers are now looking at another eighth of a percentage point higher in rate. In total, rates are up the better part of half a point since December 15th. This marks the only time rates have risen this much without having been at long term lows in the past year. For example, late 2010, mid-2013