From Matthew Graham at Mortgage News Daily: Highest Rates Since April, But There’s a Catch
Over the past 30 days, interest rates have risen sharply. This is true for both mortgage rates and bond market benchmarks like 10yr Treasury yields. …
Translation: at the beginning of the month, traders only saw a small chance of the first rate hike happening in September and no chance for June. Fast forward 3 weeks and September is seen as 100% likely and June is up to about a 60% chance. [30 year fixed 3.27%]
This is a graph from Mortgage News Daily (MND) showing 30 year fixed rates from three sources (MND, MBA, Freddie Mac) since 2010.