I have been watching the recent downward trend of mortgage rates recently in hopes of refinancing my home at a lower rate. This week after the federal reserve cut interest rates and the stock market plummeted rates hit lows not seen in years. However as of yesterday most of the rates have risen quite dramatically:

Penfed
30 year fixed jumped from 5.5% to 5.875%
15 year fixed jumped from 4.625% to 5.125%

MadRate
30 year fixed jumped from 5.125% to 5.625%

MTG Capital
30 year fixed jumped from 5.125% to 5.75%

With the recent tax rebate announcement and the stock market seemingly stabilizing I’m not sure we are going to see rates hit that low again for a while. Unfortunately it seems I may have missed rock bottom to refinance, at least for now.