Posts Tagged "29th"

What caused the spike in mortgage interest rates starting May 29th of this year resulting in a 6 month high?

on Dec 15, 2012 in Unique Loan Programs | 1 comment

Question by caffine_loady: What caused the spike in mortgage interest rates starting May 29th of this year resulting in a 6 month high? Look at any trend chart, drug and you’ll see a definate spike resulting in a nearly 3/4% increase in a week! Any idea what caused this? According to the morning news, recipe yesterday’s meeting by the fed decided to leave rates at an all time low. So… if the fed’s rates are at an all time low, why are mortgage rates up? For that matter, what causes them to change? Best answer: Answer by jlfLong term bond rates, mainly. The “fed rates” are short term rates and not the primary driver of mortgage rates. What do you think? Answer below! What caused the spike in mortgage interest rates starting May 29th of this year resulting in a 6 month...

Read More