Mortgage rates have been getting significantly worse in the last week or two as the yield of the 10-Year Treasury Note has rocketed up nearly a full percentage point in the last month or so. The Fed has been doing its best to compress interest rates but we all knew it could not last forever. It remains to be seen if this increase in rates is temporary or if the historic lows in mortgage interest rates have seen their last days.
In any case, while rates are off their lows they are still very good so if you are considering refinancing now is the time to contact us before they go up even further.
