Here It Is Folks, Mortgage Rates Heading Higher Post-Fed MBS Purchases

In all it’s (in-)glory courtesy of Zillow.

Mortgage rates for 30-year fixed mortgages continued to rise this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 5.08%, up from 4.93% at this same time last week. The 30-year fixed mortgage rate spiked Sunday at 5.14 per cent before falling to 5.05 per cent Monday.

The good news. If you you want to play ARM roulette, it’s cheaper:

Additionally, the 15-year fixed mortgage rate on Tuesday morning was 4.37% and for 5/1 ARMs, 3.68%.

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Photo: Zillow

Also from Zillow, the current extension of the homebuyer tax credit ends April 30, so…. buy now!

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