Mortgage Rates Jump to Match Highest Levels in Nearly a Month
Mortgage News Daily • • business
Key Points:
- Mortgage rates rose sharply on Tuesday, with the average top-tier 30-year fixed rate increasing to 6.21%, reversing recent lows near 5.99% seen earlier in January.
- The current rate matches levels seen before the administration announced its $200 billion mortgage bond buying plan, indicating the market has already priced in the announcement.
- Unlike previous Federal Reserve quantitative easing programs, the new mortgage bond buying plan lacks a detailed, transparent buying schedule, limiting its immediate impact on lowering rates.
- Mortgage rates may fluctuate alongside US Treasury yields depending on geopolitical developments and upcoming economic data, making future rate trends uncertain.
- The market's reaction to the bond buying plan will unfold over time, with some days showing improvement in mortgage
