Mortgage Rates Skyrocket, Could Go Higher

Mortgage rates shot up to the highest level since the first week of the year thanks to the election, and a further increase could lie ahead in the next week.

During October, 30-year note rates averaged 3.76 percent, up from 3.75 percent the previous month when it was the lowest it’s been since May 2013.

But 30-year interest rates on residential loans have still improved compared to the same month last year, when the average note rate was 4.25 percent.

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From:: Financing