Real Estate

Mortgage rates just jumped again. What that means for homebuyers

0


A pedestrian walks by a Wells Fargo home mortgage office in San Francisco.

Justin Sullivan | Getty Images

If you’re in the market for a home and haven’t locked in a mortgage rate yet, that home just got more expensive. 

The average rate on the popular 30-year mortgage hit 3.64% on Monday morning, after rising sharply last week, according to Mortgage News Daily. On Friday, the rate was 3.5%, and last Monday it was 3.29%.

The real jump happened midweek, when the Federal Reserve announced it would offload mortgage-backed bonds from its balance sheet sooner than expected. Bond yields also rose on news that the coronavirus omicron variant could spike and then quickly moderate, and with symptoms…



Source cnbc.com

0 0 votes
Article Rating

Tumult in tech stocks hurts for now, but may not lead to broader correction

Previous article

Rivian shares decline on 2021 production and executive departure

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Real Estate