After dipping to the lowest rates in more than 50 years, interest rates on government backed and conventional mortgages bounced higher this week after the Fed announced details of its latest quantitative easing plan. We get this from a WSJ blog report:
mortgage rates jumped to 4.46% for an average 30-year fixed-rate mortgage, up from 4.28% in the previous week, the Mortgage Bankers Association reported on Wednesday…
The MBA attributed the increase in rates to stronger economic data and “lingering uncertainty regarding the structure and impact” of the Federal Reserve’s new round of debt purchases
Even after the recent shift, interest rates are still near historic lows. If you have considered refinancing we recommend you fill in the “contact us” form in the sidebar right away before rates get significantly higher.