"Rates take the biggest weekly leap in 26 years!"
Scary headlines, and yes, fixed rate mortgage rates took their biggest weekly jump in 26 years this week, with 30-year fixed rate mortgages (with an average of 0.8 point) rising from 3.93% last week to 4.46%. 15-year fixed rate mortgages rose as well, with this weeks average (with 0.8 point) rising from 3.04% last week to 3.5% this week.
Sounds scary, and yes should be a warning to buyers still sitting on the fence. With the feds cutting back on the bond buying stimulation plan, rates may continue to rise.