30 Year Mortgage Rates “Highest Since April” at 3.27%

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%]
emphasis added

Mortgage Rates Click on graph for larger image.

This is a graph from Mortgage News Daily (MND) showing 30 year fixed rates from three sources (MND, MBA, Freddie Mac) since 2010.  

Go to MND and you can adjust the graph for different time periods.

30 year mortgage rates are moving up, but still historically very low.

Related posts

Idiocy in Spain: Bank Proposal to Build More Houses, Issue More Mortgages, Despite Massive Inventory and Enormous Drop in Sales

Mish Global Economic Trend Analysis

Sky City: China to Build World’s Tallest Building, 220 Stories, in 90 Days

Mish Global Economic Trend Analysis

It’s No Wonder People Don’t Understand the “Public” Debt

Angry Bear

EU Budget Laugh of the Day “No One Is Discussing Quality”

Mish Global Economic Trend Analysis

Via Barry Ritholtz’s  Big Picture comes this PBS six minute …

Angry Bear

Politics and Specific Policies

Angry Bear