We refinanced a plain-vanilla mortgage on the 5th of July at 5.375%.
NFCU has always been aggressive at lowering their rates and slow to raise them, but this month that same mortgage has jumped up to 5.75% (the latest eighth of a point raise was today, 1 August). Last Friday's rate of 5.625% now costs 1.25 points. For NFCU, three-eighths in four weeks is a very fast rise.
Is anyone else seeing rates scream up in their area? Anyone looked at the yield curve lately?
NFCU has always been aggressive at lowering their rates and slow to raise them, but this month that same mortgage has jumped up to 5.75% (the latest eighth of a point raise was today, 1 August). Last Friday's rate of 5.625% now costs 1.25 points. For NFCU, three-eighths in four weeks is a very fast rise.
Is anyone else seeing rates scream up in their area? Anyone looked at the yield curve lately?