Interest rates jump more than quarter point

Those below 4% interest rates have left the scene. Last week, 30 year fixed rate mortgages were seeing rates between 4.625% and 4.75%. These are some of the largest increases in interest rates ever recorded. This is the current picture:

  

                                           30 year fixed = 4.625%

                                           FHA/VA        =  4.25%

                                           15 year fixed  = 3.625%

Rates may vary regionally and through competition.