High Inflation Drives Mortgage Rates Above 7% This week saw a significant increase in mortgage rates, pushing past the 7% threshold and dampening the enthusiasm of potential homebuyers. The rise in rates comes amid persistent high inflation, challenging the previously held optimism for a Federal Reserve rate cut in time for the spring buying season. Specifically, the average rate for a 30-year fixed mortgage climbed from 6.97% to a peak of 7.13% on February 13, as per Mortgage News Daily, before settling at 7.03%. This upward trend in mortgage rates is making entering the housing market harder than ever. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Silver: "It’s Time To BUCKLEUP" READ MORE Bonds Fall After ‘One-Two Punch’ of ISM READ MORE Persistent Inflation Challenges Eurozone, Core Prices Higher Than Anticipated READ MORE Homeownership Hopelessness: Renters Doubt FuturePossibilities READ MORE Japan’s GPIF Seeking Info on Illiquid Assets Such as Forests, Gold as Part of Research READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment
