Tuesday, May 12, 2015

Mortgage News Daily: Mortgage Rates at 2015 Highs, Average Lender at 4%

by Bill McBride on 5/12/2015 05:32:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Keep Pushing 2015 Highs

Mortgage rates moved disconcertingly higher again today, despite the fact that underlying market levels actually improved during the day. Guaranteeing rates in such a volatile environment is expensive for lenders. The result is yet another high for 2015. The average lender is quoting conventional 30yr fixed rates of 4.0% on top tier scenarios. Just a few short weeks ago, the average rate was 3.625%. That makes this the most abrupt move higher in roughly 2 years, with the last notable example being the mid-2013 'taper tantrum.'
Here is a table from Mortgage News Daily: