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“No, Mortgage Rates Are No Longer “Sharply Lower” This Week!”

From Matthew Graham at Mortgage News Daily: No, Mortgage Rates Are No Longer “Sharply Lower” This Week!

Mortgage rates were sharply higher today, with the average 30yr fixed rate quote rising by almost an eighth of a percentage point in some cases. A move of that magnitude in one day is the sort of thing that only happens a few times a year. [Most Prevalent Rates 30YR FIXED – 3.75%]
emphasis added

Friday:
• At 8:30 AM ET, The Producer Price Index for July from the BLS. The consensus is for a 0.2% increase in PPI, and a 0.2% increase in core PPI.

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