Mortgage Rates Start Week at New 9 Month High, But Just Barely
Mortgage News Daily • • business
Key Points:
- Mortgage rates reached their highest levels in over nine months last week and have inched up slightly again today, with the average top-tier 30-year fixed rate rising to 6.68% from 6.65% on Friday.
- The day began with stable rates, but market sensitivity to breaking news about the Iran conflict caused fluctuations throughout the day.
- Initial reports suggesting progress toward a peace deal helped lower rates temporarily, but subsequent contradictory headlines pushed rates higher again.
- Despite later comments from Trump about canceling a planned attack and ongoing serious negotiations, lenders maintained higher rates, as bond market gains were insufficient to prompt rate reductions.