Real Estate

Mortgage rates jump again, causing headaches for homebuyers

0


Potential home buyers walk past an ‘Open House’ sign displayed in the front yard of a property for sale in Columbus, Ohio.

Ty Wright | Bloomberg | Getty Images

The average rate on the popular 30-year fixed mortgage hit 3.7% Tuesday morning, according to Mortgage News Daily. That is the highest since early April 2020 and now 83 basis points higher than the same time one year ago.

Rates are reacting to surging bond yields, as financial markets react to swifter and more aggressive monetary policy tightening by the Federal Reserve. Mortgage rates loosely follow the yield on the 10-year U.S. Treasury, but they are also affected by demand for mortgage-backed bonds. The Fed had been buying those…



Source cnbc.com

0 0 votes
Article Rating

UAE vows retaliation for Houthi-claimed attack, questions emerge over Iran role

Previous article

Goldman earnings 4Q 2021

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Real Estate