New Home Sales hit 8-Year High; Price Appreciation Slows; Foreclosure Starts Increase; Rates at 1-Month High
Mortgage rates moved slightly higher today, and are now effectively at the highest levels in month. That sounds a bit more dire than it is, though, because there hasn't been much movement in the bigger picture--especially over the past few days. In fact, there's quite a good chance that you'd receive the same quote today as you would have late last week. For most borrowers, that's in the mid 3.5% neighborhood when it comes to conventional, 30yr fixed loans. Flat financial markets (which are behind the relatively flat rates) speak to the risk of bigger movement in the coming days. Specifically, market participants want to see what the Fed has to say in its policy announcement tomorrow afternoon. A rate hike is not expected, but the Fed could still plant clues as to their intentions for the next
Sorry, the comment form is closed at this time.