DAILY MORTGAGE RATE UPDATE 10-11-18

Tame consumer prices in September are lifting rates while lowering yields this morning. Stocks have trimmed early morning losses on the lower inflation data.

Freddie Mac reports that mortgage rates rose this week and are now at seven-year highs, similar to what the Mortgage Bankers Association reported on Wednesday.

However, when looking at mortgage rates since 1971, they are on the low end of the spectrum.

I am recommending floating if rates can remain positive.

 

Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.

-Francis of Assisi

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