Mortgage Rates are actually HIGHER this week, and, thus, time once again to check in with the slew of mortgage rate headlines that typically follow the release of Freddie Mac’s weekly mortgage rate survey. Here are a few choice selections:

“U.S. Mortgage Rates Fall for Second Week”
“Mortgage Rates Continue to Decline”
“30-year mortgage rates fall to 3-month low”

And so on and so on… The only issue here is that they’re all wrong. Rates aren’t lower today, nor are they lower this week, nor are they at the lowest levels in 3 months. They’re actually at their highest levels in several weeks! Mainly due to the bond sell off after HOT inflation numbers came in this week (see chart below) *reminder when bond prices fall, rates go up.


Keith Murphy Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140


About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 40 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele, as they continue to offer personal service with an emphasis on achieving his clients' real estate goals. This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 20 years.