Mortgage Rates Are Even Higher Than You Think!

Mortgage Rates Are Even Higher Than You Think!

Mortgage Rates Are Even Higher Than You've Been Told The conclusion is that there is an abundance of mortgage rate coverage hitting the presses today suggesting rates are "only" up about .2% from 6.12 to 6.32. Unfortunately, the media coverage gives consumers the impression that rates are still where they were on Monday. They're not... Mortgage rates can change much more quickly than many people realize, and the past few weeks have been great examples. Today, that same lender would be closer to 6.75-6.875%. This is an incredibly abrupt move at almost any other time in the past several decades. Moreover, the most recent highs saw rates well into the 7% range, so if we're still in the 6's, rising rate headlines don't have a ton of shock value.

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