Charleston mortgage report: Mortgage rates rise sharply this week
Why do mortgage rates tend to decline slowly but rise sharply.
That's the case this week off a better than expected jobs report (which in my opinion wasn't exactly a great report with a dismal 9.1 percent unemployment rate and only 103,000 net new jobs aided by the return of striking Verizon workers which isn't exactly the same thing as a growing economy creating new jobs).
But anyway, markets being what they are cheered the good news, bond rates went up and so did mortgage rates.
You can read more at Housing Wire.
And before you get the wrong idea, rates are still incredibly low, just not quite as low as the record low set just last week.