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Rates Head Back Toward 4%; NAHB and NAR Divided Over Mortgage Interest Deduction

Rates Head Back Toward 4%; NAHB and NAR Divided Over Mortgage Interest Deduction

Mortgage rates moved higher today, bringing the average lender back near 4% in terms of conventional 30yr fixed quotes for top tier scenarios. Most lenders were back in line with last Thursday's rates, which were the highest in roughly 2 months. In terms of day to day changes, nothing about the recent mortgage rate environment is terribly alarming . It's only when you add up each day's movement over the past 3-4 weeks that things look a bit more serious. During that time rates have risen as much as any other comparable period of time in nearly a year. The biggest concern would be that "this time is different" and that instead of bouncing back down into a calm, narrow range that's prevailed for most of 2017, rates continue back up into the 4's. It's still a bit too soon to start freaking out
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