MORTGAGE RATES

Yes, Mortgage Rates Are
Now Over 7%, But It's ?
Complicated
By: Matthew Graham
Tue, Sep 27 2022, 1:49 PM

It's no mystery that mortgage rates have been moving relentlessly higher iin 2022 But how high is
high? That will depend on a number of factors, inclluding:

• The date and time of day of the quote (things change quickly)
• The llender in question (different lenders have slightly different pricing and can have vastly
different quoting practices)
• The specifics of the scenario (loan-to-value ratio, loan purpose, credit score, etc)
• The presence of "points" and other upfront costs in the rate quote.
For our purposes today, we're mainly focused on the presence of points and, to a lesser extent, the
variations between 1lenders. As always, any rate you see in a major rate index or survey wffl
assume essentially no "hits" (no upward adjustments to the rate or the upfront costs due to the
particulars of your scenario).