Ouch: A jump in mortgage rates

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A number of you have commented on the jump in mortgage rates this week -- Ace says he’s seen Bank of America/Countrywide jumbos at 8.3%. Thanks for the tip, here’s more:

From BankRate Monitor: ‘Mortgage rates skyrocketed this week as investors fretted about a pickup in inflation. The benchmark 30-year fixed-rate mortgage rose 41 basis points, to 6.37 percent. ... Four weeks ago, it was 5.57 percent. ... The 30-year fixed jumbo, for loans of more than $417,000, went up 39 basis points, to 7.55 percent.’

Also: As Cal points out in the comment section, expectations for a big drop in jumbo rates are now diminishing.

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Photo credit: AP