Loan officers are shifting their playbooks to keep deals alive as mortgage rates climb north of 6.6%. Originators are encouraging borrowers to ask for more seller credits, recalibrate their home search criteria and rush to close deals as quickly as possible.

Rates for 30-year fixed mortgages reached 6.62% on Friday afternoon, up 5 basis points from the prior day, according to Mortgage News Daily. At HousingWire’s Mortgage Rates Center, rates for 30-year conforming loans stood at 6.63%.

“Rates rose today in response to rising oil prices. That’s not good for affordability, but in my experience, borrowers rarely change their details ⇒

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