Saturday, June 22, 2013

Mortgage Rates Rising In Usa

Nightmare for Mortgage Rates: Way Worse Than Freddie Told You

Mortgage rates have had a far worse week than than you've been told anywhere else, and today was even more freakishly destructive than the previous two days. Taken together, this is the worst week for mortgage rates we have on record. Today is one of two times in the past 10yrs where the average borrowing rate for top tier scenarios moved up by at least a quarter of a point. A quarter of a point may not sound like much, but in terms of day-to-day movements in 30yr fixed mortgage rates, it's catastrophic. That leaves best-execution at a stomach-churning 4.625% today.

Posted by khards @ 04:43 PM (2053 views)
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5 thoughts on “Mortgage Rates Rising In Usa

  • You see, the case for bigger QE is beginning to show itself.

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  • mark wadsworth says:

    Yes, people like Techie are the experts and all that, but even from my scant knowledge, the increase in long term interest rates in the USA in the past month or so has been amazing.

    Or to put it another way, the benchmark 30-year T-Bond future has fallen from 148 at the beginning of May to 135 on Friday, which means that had you bought T-Bonds on 1 May 2013, you would have lost about ten per cent of your money within two months.

    All very unusual.

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  • All very unusual.

    To a degree it’s all FED inflicted though. It seems to me, that it’s the talk of tapering which has created this crisis. Perhaps it’s just Ben trying to silence the criticism of the way he has been handling things, and is showing that ”doing the right thing” is likely to unleash quite a calamity.

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  • @hpwather, it’s not just the FED though – it’s China too.

    I suspect that the US has been tapping/spying on China, so the announcements come at the same time.

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  • stillthinking says:

    But must have been worse without abenomics. No wonder Obama was so keen on a foreign devaluation for a change.

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