Today's Mortgage Rates | April 18, 2022

“Right now they are showing 4-3/8 for new 30 year fixed loans”

4.8 to 5.99

https://www.bankrate.com/mortgages/mortgage-rates/?disablePre=1&mortgageType=Purchase&partnerId=br3&pid=br3&pointsChanged=false&purchaseDownPayment=59520&purchaseLoanTerms=30yr%2C15yr&purchasePoints=All&purchasePrice=297600&purchasePropertyType=SingleFamily&purchasePropertyUse=PrimaryResidence&searchChanged=false&showingStacked=true&ttcid&userCreditScore=740&userFha=false&userVeteranStatus=NoMilitaryService&zipCode=34655

That’s a BIG jump in 24 hours. And the initiation points went way up, too.

I appreciate your tip on Third Federal and your other insights. I do not believe that either of us in a typical situation. It is obvious that rates are on the rise and are going to cause major shifts in the housing market.

Yesterday's report from Money on the 30 year may have been an outlier, their methodology using a very specific criteria is more prone to "noise" than other more generic methods using an average from borrowers all across the spectrum. And 1 day does not make a trend. But this is not unlike the various measures of inflation, many excluding "volatile" food and energy costs. Today they report that the 30 year mortgage rate for someone with a 700 credit score slid half a point to 6.378%.

Borrowers looking for a 30-year fixed-rate mortgage will see rates averaging 6.378% today. The average rate is down nearly half a percentage point from yesterday when the it was nearly 7%. Average rates for almost all other loan types, however, are higher.

"The latest rate on a 30-year fixed-rate mortgage is 6.378%. ⇓
The latest rate on a 15-year fixed-rate mortgage is 5.087%. ⇓
The latest rate on a 5/1 ARM is 4.259%. ⇑
The latest rate on a 7/1 ARM is 4.415%. ⇑
The latest rate on a 10/1 ARM is 4.49%. ⇔"

“Money's daily mortgage rates reflect what a borrower with a 20% down payment and a 700 credit score — roughly the national average score — might pay if he or she applied for a home loan right now. Each day's rates are based on the average rate 8,000 lenders offered to applicants the previous business day. Freddie Mac's weekly rates will generally be lower since they measure rates offered to borrowers with higher credit scores."

https://money.com/todays-mortgage-rates-april-19-2022/

Sounds like a personal problem. It’s seriously stupidly easy in both sites. I’ll grab the links next time I boot my laptop up.

bank rate

Just click filter and sort + purchase

https://www.bankrate.com/mortgages/mortgage-rates/?mortgageType=Purchase&partnerId=br3&pid=br3&pointsChanged=false&purchaseDownPayment=59520&purchaseLoanTerms=30yr%2C15yr&purchasePoints=All&purchasePrice=297600&purchasePropertyType=SingleFamily&purchasePropertyUse=PrimaryResidence&searchChanged=false&showingStacked=true&ttcid&userCreditScore=740&userFha=false&userVeteranStatus=NoMilitaryService&zipCode=29575

Click filter and sort, update location and amount and choose primary or refi