April 15th, Mortgage Rates Worsen!
We knew it was coming. Rates finally worsened after hanging out near historic lows for about a week. We have seen about a .375% increase in mortgage rates in the last 48 hours. Mortgage bonds are down about 80 basis points from yesterdays open which is driving rates UP.
Every time rates hit this low level we have clients that do not listen and try to hang on for a lower rate. When we are sitting at historic lows and inflation fears are on everyone’s mind its just not going to get better, it can only get worse.
Hopefully we will bounce back in the next few days to where we were!