by Calculated Risk on 3/29/2022 05:21:00 PM
From Matthew Graham at MortgageNewsDaily: Here We Go Again: Mortgage Rates Making Another Recovery Attempt
If recent instances of hope and the subsequent crushing of those hopes are any guide, this could certainly be another head fake. There’s no way to tell how likely that is. What we can say is that it would take several more days with bigger improvements to alter the broader rising rate trend.
The average lender was closest to 5.0% on Friday and Monday for top tier conventional 30yr fixed scenarios. Today’s number is closer to 4.875% for the same scenarios.
This is a graph from Mortgage News Daily (MND) showing 30-year fixed rates from three sources (MND, MBA, Freddie Mac) since 2010.