This is something we’ve known was going to happen for months. Mortgage rates couldn’t stay in the historical cellar forever. They had to rise eventually.
The average credit score for Americans rose to 696 last month and total consumer lending saw growth in the first quarter leading many to believe we’re on the cusp of a loan rebound across the country.
Mortgage interest rates tick upward – don’t miss your chance to refinance into a historically low mortgage rate!
News spread from the Mortgage Bankers Association’s annual convention that rates are expected to rise as early as next quarter. Meantime, all eyes are on the Federal Reserve’s anticipated plans to bolster the economy.