Mortgage rates across the board are up today.  Stock markets opened weak following huge sell offs in overseas markets.  Typically when the market is tanking like this, people invest in bonds as well as mortgage backed securities.  When mortgage backed securities are being purchased, the price goes up and the yield goes down - which means the interest rates go down.

This isn’t the case….the markets are bad all around.  Historically, these rates are not THAT bad, however.  Those with good credit should still be able to find 5.875%-6.00% 30 year fixed rate mortgages today.

Tags: mortgage rates October, rates