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Thursday, September 21, 2023

"Mortgage Rates Jump up to 23-Year Highs"

by Calculated Risk on 9/21/2023 08:15:00 PM

Mortgage Rates From Matthew Graham at Mortgage News Daily: Mortgage Rates Jump up to 23-Year Highs

Between the data and the overnight momentum in overseas markets, bonds are at their weakest levels in years. Mortgage-backed securities (the bonds that dictate mortgage rates) didn't swoon quite as much as Treasuries, but as of today, it was just enough to push the average mortgage lender almost perfectly back in line with the highest 30yr fixed rate of the past 23 years. [30 year fixed 7.47%]
emphasis added
• No major economic releases scheduled.