Mortgage rates increased due to inflation, bond market yields, and Federal Reserve policies.
Mortgage rates have recently increased after weeks of decline, primarily due to inflation, bond market yields, and Federal Reserve policies. Economists predict that rates may continue to rise gradually in the short term but could stabilize at higher levels long-term as the economy recovers. Homebuyers and those considering refinancing should stay informed about these changes, as the economic landscape influences borrowing costs significantly.
October 13, 2024
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