Mortgage Rates Approaching 2015 Highs

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates remain under significant pressure , having now moved higher almost every day in February. So far, this is the worst month for rates since Nov 2013. While that sounds pretty bad, in this case, the weakness has more to do with a reaction to previous strength. The trend toward lower rates in 2014 had been very slow and steady. January saw an acceleration of that trend and now February is simply bringing us back in line. Even the strongest long term trends undergo these sorts of corrections. On such occasions, the question will always be: is this just a correction in a longer term trend or are rates done heading lower? Based on where we are today, it would be far too soon to say that the long term trend toward lower rates is defeated. Fortunately, the strategy is the same either…(read more)

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