Thursday, 21 October 2021 | The Latest Buzz for the Appraisal Industry

Mortgage Rates Higher for 8th Straight Day

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates are in the midst of a substantial losing streak . Today’s outright losses weren’t that bad in and of themselves, but they have the distinction of making today the 8th straight day where rates have been higher. To reiterate a point I made yesterday, February is currently the worst month for mortgage rates since November 2013, and today’s moderate weakness only makes that more true. Top tier purchase scenarios are increasingly being quoted conventional 30yr fixed rates of 3.875% though 3.75% remains just a bit more prevalent. Most borrowers would still see the same contract rate as yesterday, but with higher upfront costs (or a lower lender credit). If there’s a consolation here it’s that 8 days is about as long as these sorts of streaks last before taking a break. Additionally…(read more)

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