Mortgage Rate Update: Rates hit their highest mark in 4 years.

Mortgage rates have moved out of that narrow range we have been in for a while, and are now officially falling off the cliff...meaning higher in rate world.

Here is the pricing from March 1st, to today. Red is bad, green is good.

As you can see, pricing is moving quickly in the bad direction. For some perspective, here is the rate graph from December of 2017. As the bars go lower, rates go higher. You can see the movement. Red is bad, green is good.

Here is a pricing scenario:

Here is a pricing scenario:

740+ credit score, 20% down, purchase, conventional loan.

4.750% Rate (4.810% APR)

I always tell people that they can have any rate that they want. I priced this scenario with no extra cost for the rate, and no lender credit. If you wanted to pay about 1% of the loan amount towards a discount in the rate, you'd be looking at 4.625% (4.741% APR).

Each scenario will be different. Please let me know if you'd like me to run a scenario for you!