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Rates Higher Still; Remodelers See Slowdown; Gloom and Doom Time?

Rates Higher Still; Remodelers See Slowdown; Gloom and Doom Time?

Mortgage rates continued higher today, solidifying this week as the worst one in quite a while. Not since the first week i n November have rates risen so quickly. That said, the volatility might be a bit easier to stomach this time around--especially for those who haven't been able to lock a rate yet. Reason being: the total move amounts to about an eighth of a percent. Rates were so low previously that lenders weren't under as much pressure to compete to stay busy. That left them with a bit of margin to cushion the blow of this week's market movements. In several cases, top tier scenarios are still fetching conventional 30yr fixed quotes of 3.625%, although 3.75% is slightly more prevalent today. In terms of strategy from here on out, yesterday's advice stands. If you haven't locked yet, be
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