Mortgage Rates Continue to Climb
Upbeat economic reports and a second straight rally on Wall Street led traders to believe there won't be a break in rate hike cycle any time soon. Rising yields, which are used as a guide to set mortgage rates, forced lenders to edge rates up further on a number of products.
At 4:00 p.m. EST, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage was at 6.087 percent from 6.039 percent on Wednesday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.639 percent from 5.597 percent on Wednesday.
Given the hefty increases seen this week in Treasury yields and key mortgage rates, lenders may take a breather overnight as they wait for the outcome of the employment figures.
At 4:00 p.m. EST, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage was at 6.087 percent from 6.039 percent on Wednesday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.639 percent from 5.597 percent on Wednesday.
Given the hefty increases seen this week in Treasury yields and key mortgage rates, lenders may take a breather overnight as they wait for the outcome of the employment figures.
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