Robert Krowel / Mortgage Rates Hit 17 Month High.

Mortgage Rates Hit 17 Month High.

Rates are now well above 4% for the typical 30-year fixed-rate mortgage. The average hit 4.125% on Friday–the highest since July 2015, according to MortgageNewsDaily.com. That is more than half a percentage point higher from the average on election day.

Rates on 30-year fixed mortgages move in tandem with the 10-year Treasury yield, which was 2.34% on Friday afternoon; it was just 1.88% on Nov. 8th.


For the week of November 11th the Mortgage Applications have fell more then 9% across the country.

 Now that we know the bad news / Whats the Good News?

Yes Interest Rates are on the Rise. With saying this though we are still in the Historical Lows. You can still get a mortgage in the 4's,. Of course this depends on where you fall in the spectrum with credit, DTI, LTV and the type of loan. This isn't a time for panic. This is Just what we are faced with. 

I have been in the business for a lot of years now. I have seen shifts all of the time and I study what is going on in the Country. Interest Rates are Directly driven off of the 10 year Treasury. This is the number 1 indicator with Mortgage Rates USUALLY.  Like anything else this isn't always right. 


I have been asked a lot lately by not only my team but also the Realtors I work with. Everyone needs to not panic. Even though this is a little higher then what we are use to, we still see a rise in interest rates at this time of year.  I think at this point if we continue to see a rise of interest rates, then we are going to see a decrease in values. A little bit. We are not ion a 08. This I can assure you.

It's time to educate our borrowers. It's time to brush up on our closing skills. This is not going to go away any time soon. We may never see interest rates that low any longer.

Please feel free to call me ( Robert Krowel ) with any questions

Robert Krowel
951.756.3748