Rate Surveillance: Fixed-Variable Spreads Narrow
The latest mortgage rate intel… Variable rates. The fix is in?: Variable rates have gone vertical, ramping up 25-35 basis points in a matter of weeks. It seems like every 6-7 days we’re hearing banks cut discounts from prime by another 5 bps or so. This week was no exception. Sure, the banks have faced an array of funding cost pressures, but nothing...