Rates are a rising in the US

[Rolf Latham]

The below from one of my FB contacts in the US mortgage market

Guess the stimulus needed to stop somewhere.

ta
rolf




"Ah yes it's a great day to be in the mortgage business. Rates are up .625% in 30 days, and .25% to .375% in just 1 week. Any quote older than this morning is outdated. It will take a week or two for the media to report the rapid rise in rates. This last 30 days has been a great example of the quick pace of rising rates. Gradual is never the trajectory of rates during a climb. The next piece of news coming next week in the form of the NFP report will either add to the pain or stop the bleeding. I think we may see some slight improvement between now and then, but locking is a must."

 

[HotRod]

The poor dears.

 

[geoffw]

It seems to be that the US property market is strengthening well. The dropping market previously required low rates (the stimulus that Rolf mentioned), it's time to return to normal market conditions.

It will be interesting to see if this slows down the price rises over there.

 

[Aaron Sice]

must be awful for those 1500:1 leveraged forex institutional traders to forego a massive 100% increase in short interest costs.