From Matthew Graham at Mortgage News Daily: Rates Jump Quickly to Highest Levels Since July
By the smallest of margins, mortgage rates are back up to levels last seen in July. That means we’ve gone from being fairly close to 6% in mid-September to being nearly as close to 7% today when it comes to top tier 30yr fixed scenarios for the average lender.
Today’s jump was particularly quick and frustratingly lacking in satisfying explanations. It’s not the explanations make bad news any more palatable, but it’s always more frustrating to be confronted with unpleasantness that seems to be happening for no good reason. [30 year fixed 6.82%]
emphasis added
Tuesday:
• At 10:00 AM ET, Richmond Fed Survey of Manufacturing Activity for October.
• Also at 10:00 AM, State Employment and Unemployment (Monthly) for September 2024