30 year fixed rate mortgages averaged 4.1% last week which is down from 4.14% the week before. Last year at this time the rate was 3.59%.
Although rates are rising, the increases seem to be mild and sustainable. The perception to borrowers though, could be a different matter. Those that are on the cusp of buying a home may be pushed over the edge with the fear of rising rates in the future.
Read the Original Article Here: Daily market update: April 10, 2017