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Boone Co. Iowa | I am going to assume that this is the same for operating notes as well as land and machinery loan rates.....
http://www.mortgagenewsdaily.com/mortgage_rates/
http://www.mortgagenewsdaily.com/consumer_rates/875048.aspx
Mortgage Rates Knocking on 5% Ceiling
Decrease Font SizeTextIncrease Font Size Sep 19 2018, 3:37PM
Mortgage rates are in bad shape. At some point in the past 3 days (depends on the lender), top tier 30yr fixed rate offerings hit their highest level in 5 years, then 7 years. For the first time since 2011, the most prevalent top tier rate is 4.875% (meaning a handful of lenders are at 4.75% or 5.0%). If this trajectory holds, the average lender would be at 5% next week.
In order to make the past few days relevant for anyone who reads this, let's focus on the CHANGE between today's average rates and those seen less than a week ago. From Friday the 14th, the average 30yr fixed quote is an eighth of a percentage point higher (.125%). While we've seen moves that big in the past, with only 1 or 2 exceptions, we haven't seen anything like it in 2018. And when we consider that it takes rates to their highest levels in 7 years, it's even more troubling. | |
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Interest rates
