Mortgage Rates Surge to 9-Month Highs

Mortgage rates surged to 6-month highs last week and kicked into higher gear this week. The result was a move to the highest rates since the beginning of 2017 with many borrowers seeing quotes that are 0.25% higher than they were last week. Although we're still on the lookout for a ceiling in rates to emerge after this uptrend has run its course, it's clear that hasn't happened yet. As such last week's advice remains unchanged: It makes more sense to remain defensive with respect to locking and floating. In other words, floating is too risky for all but the biggest gamblers. -Matt Graham, Mortgage News Daily

You may also like...