Mortgage rates jump to a six-week high

mortgage rates jumped abruptly higher today for many lenders after reports of an informal show of hands in favor of John Taylor as Trump’s potential fed chair nominee. Taylor is one of two.

If you were waiting for rates to go lower before purchasing a home or refinancing, it looks like you may have missed the mark. For the fourth straight week, mortgage rates moved up and are now at a six month high. 30 year fixed rates this week are averaging around 4.61%, up from last week’s rate of 4.46% and 15 year fixed rates rose to 3.96% up from last week’s rate of 3.81%.

Rates for home loans churned higher as investors braced for more interest rate increases and inflation quickened. The benchmark 30-year fixed-rate mortgage averaged 4.43. groundswell of demand will.

During the week ended September 13, 2018, the average rate on a 30-year fixed-rate conventional mortgage jumped to 4.60% with an average 0.5 point, a six-week high and up from 4.54% the week before. Compared with a year ago, the rate is up significantly from 3.78%.

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“Treasury yields and mortgage rates have been level to slightly higher since the Fed meeting. leading to a 3 percent.

Citi names Chubak to head consumer retail banking and mortgage Wage growth fuels a shift in how millennials fund down payments Millennials will be saved by higher wages, assuming they can get jobs. We’ve been disappointed before." If wage growth remains sluggish, young people will probably just keep shying away from buying houses and cars, behavior that could cost the economy as much as $244 billion through 2019, according to S&P.

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Rates for home loans rose to a six-week high as upbeat economic data and a bulging deficit spurred a yield-lifting bond sell-off and big questions gripped the housing market. The 30-year fixed-rate.