Mortgage Market Mayhem: What's Behind the Baffling Numbers? The latest data from Zillow shows a puzzling trend in mortgage rates, with purchase rates higher than refinance rates.
This phenomenon has left industry insiders and analysts scratching their heads, seeking answers to what it means for potential homebuyers and sellers.
The Anomaly Unpacked Current 30 year fixed rate purchase loans are at 6. 40%, while the 15 year fixed rate purchase is even higher at 5. 86%. In contrast, refinance rates are lower across the board.