Mortgage Rates Rise to 5 Month High

Fueled by a treasury bond sell off, mortgage rates climbed to a 5 month high this pas week. Rates move increased to 4.61% from 4.46% on a 30 yr fixed mortgage. Although rates are at a 5 month high, they are still low compared to historic numbers. Many borrowers can still save hundreds of dollars refinancing. Potential home buyers can still lock in a low 30 year fixed mortgage and save thousands of dollars in interest. Contact your mortgage professional to see what makes sense for you.