Mortgage rates are currently at the highest rate they have been in two weeks. Last week's rally in the bond market was spurred by the sentiment that Britain would leave the EU. Now that is shifting to a fairly even probability of Britain remaining in the EU. If this happens, rates could rise sharply. It's hard to say if the last few days have been a breather in bond movement, or a correction from the over-zealous financial market participants who got behind the Brexit a bit too soon. This indecision in the bond markets will be resolved soon enough, but for now, most 30 year fixed conventional loans are being written anywhere between 3.5% and 3.625%. Check here tomorrow for mortgage rate updates.
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• 30 year (FRM) rates at 3.57% (+0.01%).
• 15 year (FRM) rates at 2.87% (+0.01%).
• FHA 30 year Fixed rates at 3.25% (+0.00%).
• Jumbo 30 year Fixed rates at 3.61% (+0.00%).
• 5/1 ARM rates at 3.00% (+0.01%).
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