Mortgage rates: ‘Definitely in panic mode’

By Diana Olick | CNBC

Mortgage rates, which loosely follow the yield on the U.S. 10-year Treasury, spiked Wednesday, after a brief reprieve last week. The move higher seems to signal that while rates rock back and forth every day, they are now on a trajectory to go up.

The days of 3.5 percent on the popular 30-year fixed mortgage are over.

“Definitely in panic mode,” said Matt Weaver, senior mortgage loan originator with PMAC Lending Services. “A lot of refinance clients are moving to locks immediately because the Fed talk is starting to be an eye opener for everyone.”

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June 9, 2015

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