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 Bankrupt Crypto Lender Genesis Settles SEC Lawsuit READ MORE Bank of Japan Eyes Policy Shift: Ending NegativeRates READ MORE BRICS: Scotiabank Says US Dollar To Fall in 2024 READ MORE Fed Chair Powell Stresses Patience on Rate Cuts Amid Inflation Battle READ MORE “A Decade of Armageddon” Susanne Trimbath, Fed & DTCC Insider Reveals All READ MORE Add a Comment Cancel replyYour email address will not be published.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
