The Top Still Isn’t In For Mortgage Rates

April 25th, 2018

Mortgage rates had another rough day as they continued moving up into new 4-year highs.  Unlike the extremely mild and uneventful day-to-day changes seen for most of the past 2 months, rates are actually putting some distance between themselves and the March plateau.

Whereas a well-qualified borrower with 25% down may have been quoted a conventional 30yr fixed rate of 4.5% a few weeks ago, they’d already be looking at 4.75% today for most lenders.  Of course, this can vary a bit from lender to lender, but the point is that all lenders have experienced that sort of delta.

Will it ever stop?  Yo! I don’t know!  Actually, I do know.  The answer is yes, but I don’t know when.  Rates could (and SHOULD if we’re being honest) continue even higher from here.  They may not do so in a straight line, but barring an unforeseen market shock, today’s rates aren’t the highest you’ll see in 2018.


Today’s Best-Execution Rates

Conventional 30 Yr Fixed 4.69% +0.05
Conventional 15 Yr Fixed 4.06% +0.04
FHA 30 Year Fixed 4.50% +0.05
Jumbo 30 Year Fixed 4.70% +0.01