Mortgage Interest Rate News 06-10-2015

Mortgage interest rates….when will they catch a break?  It’s been rough for mortgage rates lately however it could be worse; a lot worse.  Over the last 10 plus years I’ve seen periods where rates have jumped a full percentage point in a matter of days.  The recent move up has been from the high 3’s to low 4’s….and its been at a more moderate pace.  And don’t forget the market volatility and how rates are usually higher during periods of high volatility.  If the bond market was flat the last few weeks you would probably see more a more aggressive pricing structure from mortgage lenders.  Since it’s been very volatile over the last few weeks your seeing most lenders take a cautious approach when issuing rates.

Refinance mortgage interest rates along with purchase mortgage interest rates still remain lower than most of 2014.  So it’s important to keep this mind when you evaluate the current market.  Markets never go straight down or straight up (except for the current bull market in equities – j/k) so when we hit a period where mortgage interest rates pop up it’s important to compare the move to previous moves up so that you have a better understanding of the current mortgage interest rate market.