The perils of waiting to tell you that mortgage interest rates are headed back up

If I had been a bit more timely, and had broken this news about a week ago, I might have told you that THE SKY IS FALLING, LOCK IN AN INTEREST RATE NOW.  Indeed, mortgage interest rates made a considerably two week jump from 3.88% to 4.08%.  Many predicted that the end of low mortgage interest rates was nigh.



As is typical, one data point can distort one's perception of reality.  So, let's take just one more data point and reassure ourselves about our previous perception of reality.  :)  As you'll see above, the jump to 4.08% may have been an anomaly, as average interest rates fell back below 4% the following week.

The big picture is something we've known for a WHILE now -- these ridiculously low mortgage interest rates won't last forever -- though it could be quite a while before they may any meaningful increases (over 4.5% or 5.0%, for example).