US long-term mortgage rate bounce back to levels seen 4 weeks ago
The 30-year fixed rate climbed for a second week as bond market volatility and higher Treasury yields kept borrowing costs elevated, Freddie Mac said.
- Freddie Mac reported Thursday that the benchmark 30-year fixed mortgage rate rose to 6.37% from 6.3% last week, marking the second straight weekly increase.
- Surging oil prices amid the war with Iran continue to heighten inflation worries, driving ongoing bond market volatility that influences Treasury bond yields and mortgage rates.
- Borrowing costs for 15-year fixed-rate mortgages also moved higher this week, while the 10-year Treasury yield reached 4.37% in midday trading Thursday.
- Sales of previously occupied homes were down from a year earlier in the first three months of the year, extending a nationwide housing slump dating back to 2022.
- Bright MLS chief economist Lisa Sturtevant said expectations for rates below 6% this spring have disappeared, with buyers and sellers facing mid-6% range rates into summer.
12 Articles
12 Articles
US mortgage rates rise to 6.37% as Iran war fears and inflation pressure shake housing market
U.S. mortgage rates are moving higher again as global tensions and inflation worries affect the housing market. Home buyers are facing higher monthly costs, while demand for homes is slowing down. Experts say rates may stay high for some time, making it harder for many people to afford homes in the current market.
U.S. long-term mortgage rates bounce back to levels seen 4 weeks ago
The average long-term U.S. mortgage rate rose again this week, reflecting ongoing bond market volatility as surging oil prices due to the war with Iran heighten inflation worries. Mortgage buyer Freddie Mac said Thursday that the benchmark 30-year fixed rate…
Associated Press News
US long-term mortgage rate bounce back to levels seen 4 weeks ago
The average long-term U.S. mortgage rate rose again this week, reflecting ongoing bond market volatility as surging oil prices due to the war with Iran heighten inflation worries.
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