Mortgage Rates as of December 19, 2012
Mortgage rates moved higher at the quickest pace in weeks on Tuesday as politicians convey an increasing sense of compromise regarding Fiscal Cliff negotiations. The broader move higher in rates had been somewhat gentler until today, beginning with the jobs report on December 7th. From there, the changes in Fed policy convey last Wednesday kept the pressure on, but it wasn’t until yesterday and today that a shift in tone on the Fiscal Cliff pushed the 30yr Fixed “Best-Execution” level firmly into 3.375% territory, with some more conservatively priced lenders at 3.5%. Click here to read more.