Big, Bad Week for Mortgage Rates

Mortgage Rates moved higher this week at the fastest pace since early November 2016. There were several reasons for the volatility, including a rebound in oil and policy communications from the European Central Bank. The long and the short of it is that global average rates had fallen to all-time lows 2 weeks ago, and now it looks like they're making at least an exploratory bounce higher. The best bet is to buckle up in the event the bounce continues. In other words, locking remains the safest strategy until the trend toward higher rates definitively comes to an end. - Matt Graham, Chief of Operations, Mortgage News Daily

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