Mortgage Rates Start to Climb

Mortgage rates are still at record lows, but they are edging up. The most concerning issue is that bank mortgage rates are moving counter to market data. Meaning that mortgage banks and lenders are not passing on gains in credit market rate declines. This creates artificial tightening in consumer (mortgage) credit, as well as unpredictability in forecasting mortgage rates. It also runs counter to Federal Reserve and US government policy desires. This will make for some volatility and erratic moves in mortgage rates.

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National Rates

Loan Type Today +/-
30 yr fixed 3.80
15 yr fixed 3.10
5/1 ARM 2.73

Rates may contain points

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