From Mortgage Matters:
Mortgage rates continue to rise. They’re now far above where they were just a week or two ago. Now the par rate on a 30-year fixed is probably 6.25 percent or higher. In last week’s Bankrate survey, the 30-year fixed averaged 5.96 percent; a month ago, it was 5.57 percent.
Today’s spike looks to be related to a strong start for stock prices, plus an increase in crude-oil futures, which might foretell inflation.
I locked my refinance in at 5.75% (fixed-rate, from 6.875%), a couple of weeks ago. I guess I got lucky!
Source: Mortgage Matters – By Holden Lewis, Bankrate.com
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