Saturday , 16 January 2021

Everything You Read About Mortgage Rates This Week is Wrong! (Except This)

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates shot higher at their fastest pace in nearly a year today following this morning’s employment data. This also leaves rates at their highest levels since early January–something that might come as a surprise if you happened to read anything about rates yesterday. That’s because Freddie Mac puts out its widely-cited weekly mortgage rate survey every Thursday. Almost every major news organization uses that report to cover mortgage rates for the week, and thus there is a glut of headlines between 10 and 11am on Thursday morning that all sound fairly similar. For example: Mortgage rates fall to 20-month low, Freddie Mac says Freddie Mac: Mortgage rates slip back to 21-month low Freddie Mac: Mortgage Rates Ticked Back Down Again FREDDIE MAC: Fixed Mortgage Rates Reverse Course, Move…(read more)

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