Recent forecasts of ongoing mortgage rate unpredictability are proving accurate, as the 30-year fixed reversed course following its steep drop last week by rising over 20 basis points, according to Freddie Mac.After recording a one-week fall of 40 basis points — the largest since 2008 — the 30-year fixed-rate average jumped up to 5.51% from 5.3% for the seven-day period ending July 14, according to Freddie Mac’s Primary Mortgage Market Survey. In the same weekly period a year ago, the 30-...
Recent forecasts of ongoing mortgage rate unpredictability are proving accurate, as the 30-year fixed reversed course following its steep drop last week by rising over 20 basis points, according to Freddie Mac.After recording a one-week fall of 40 basis points — the largest since 2008 — the 30-year fixed-rate average jumped up to 5.51% from 5.3% for the seven-day period ending July 14, according to Freddie Mac’s Primary Mortgage Market Survey. In the same weekly period a year ago, the 30-...