TODAY’S INTEREST RATES
After a steady few weeks, Interest Rates are moving higher at a rapid pace in 2022.
If you regularly follow our weekly updates, we’ve been preparing for this for some time.
See Mortgage Backed Security Market below.
The massive drops in red equate to a drop in Mortgage Backed Security prices which means higher interest rate pricing.
Rate pricing is on average .125% to .25% higher than last week.
At a .25% higher rate, this equates to a $15 higher payment per $100,000 in loan amount.
The FED released their minutes this week and there is a very good chance the first FED interest rate increase
will happen in March 2022. The US Jobs report for December will be released on Friday 1/7/21.
This report usually gives strong indicators on where mortgage interest rates will head for the next month.
Below is today’s rate sheet for well qualified borrowers.