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Monday, May 08, 2023

"Mortgage Rates Jump to Highest Levels Since Last Monday"

by Calculated Risk on 5/08/2023 09:00:00 PM

Mortgage Rates From Matthew Graham at Mortgage News Daily: Mortgage Rates Jump to Highest Levels Since Last Monday

Mortgage rates moved noticeably higher to start the new week--high enough that you'd have to go back to last Monday to see anything higher. That's the bad news.

The good news is that rates are in the midst of their flattest trend in a long time. This is true both in a broad sense going back to Q4 2022 and a more recent/narrow sense going back to mid-March. Since then, the top tier 30yr fixed rate hasn't strayed too far from 6.5% despite spending time on both sides of that level. [30 year fixed 6.65%]
emphasis added
• At 6:00 AM ET, NFIB Small Business Optimism Index for April.