Mortgage rates jump to highest level since last Monday

To Estimated risk per 08/05/2023 21:00:00

From Matthew Graham of Mortgage News Daily: Mortgage rates jump to highest level since last Monday

Mortgage rates rose noticeably at the start of the new week – high enough that you have to go back to last Monday to see anything higher. It is bad news.

The good news is that rates are in the middle of their most stable trend in a long time. This is true both in a broad sense starting in the fourth quarter of 2022 and in a more recent/narrow sense starting in mid-March. Since then, the top 30-year fixed rate has not deviated much from 6.5%, despite time being spent on both sides of that level. [30 year fixed 6.65%]
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Tuesday:
• At 6:00 AM ET, NFIB Small Business Optimism Index for April.