Mortgage rates for 30-year fixed loans, 15-year fixed and 5/1 ARMs bumped higher today, according to a NerdWallet survey of mortgage rates published by national lenders Tuesday morning.
U.S. bond yields, which guide mortgage interest rates, were higher on Tuesday after European Central Bank President Mario Draghi gave a speech in which he said recent signs that inflation pressures were easing were temporary, MarketWatch reported. The comments were interpreted by traders as indicating that official interest rates would continue to rise this year, the financial news organization said.
Draghi’s comments were similar to those made earlier this month by Federal Reserve Chair Janet Yellen in which she made the case that recent weakness in inflation data was a short-term phenomenon, MarketWatch reported.
MORTGAGE RATES TODAY, Tuesday, JUNE 27:
(Change from 6/26)
30-year fixed: 4.02% APR (+0.01)
15-year fixed: 3.42% APR (+0.01)
5/1 ARM: 3.88% APR (+0.02)
NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.
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The article Mortgage Rates Tuesday, June 27: Higher as Bond Yields Rise originally appeared on NerdWallet.
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