Mortgage Rates Rose Sharply This Week

 

 

Mortgage Rates Rose Sharply This Week

 

Mortgage Rates Rose Sharply This Week The average mortgage rate headline among major news networks suggests things improved this week.  The average headline is wrong. Freddie did indeed report a small drop in rates versus last week, but there are several caveats. Rates rose abruptly on Wednesday and Friday following surprisingly high inflation readings in The UK and Germany. All other things being equal, higher inflation means higher rates. As for why we care about 10yr Treasury yields in the mortgage/housing markets, this is why:. The net effect for US mortgage rates was a move up to the highest levels in nearly a month. While it's not a pleasant experience for those in the industry, the correction in housing was and still is a logical byproduct of the unprecedented boom in prices and sales in 2020 and 2021. One is still rising while the other has fallen sharply.