by calculated risk October 21, 2024 07:53:00 PM
From Matthew Graham of Mortgage News Daily: Interest rates soar to highest level since July
Mortgage rates are back to levels last seen in July, albeit by a small margin. That means that for the average financial institution’s top-level 30-year fixed scenario, it went from being pretty close to 6% in mid-September to being pretty close to 7% now.
Today’s jump was particularly fast, but the lack of a satisfying explanation was frustrating. Explanations don’t make bad news any more palatable, but it’s more frustrating when faced with unpleasant events that seem to be happening for no reason. (Fixed for 30 years 6.82%)
Emphasis added
Tuesday:
• 10 a.m. ET; Richmond Fed Manufacturing Activity Survey For October.
• Also at 10 a.m. State employment and unemployment (Monthly) September 2024
