Mortgage rates have gone up 500 bp since the election.

I don't think the media has put any kind of attention into what has happened to mortgage rates since the election. A lot has happened. Let's compare the cost of 3.50% the day before the election and what it would cost now:

loan amount: $400,000

rate: 3.50%

program: 30 YR Fixed

Rate price on 11/7/16 the day before the election: -3.00% (which is a lender credit of $12,000)

Rate price yesterday 12/16/2016: 2.00% (which is a lender charge of $8,000)

So, for the 3.50% rate the rate sheet price has worsened by 500 bp in the period of 11/7/2016 to 12/16/2016. The cost of the 500 bp increase on a $400,000 loan is $20,000.

$400,000 X 500 bp = $20,000

Here is the last rate sheet before the election dated 11/7/2016

Here is yesterday's rate sheet dated 12/15/2016