Don’t wait any longer! Interest rates are about to make buying a home a whole lot more expensive when they are raised this Spring.
A huge sell-off in the bond market is about to make buying a home more expensive. Mortgage rates, which loosely follow the yield on the 10-year Treasury, have been rising for the past few weeks, but are seeing their biggest move higher Monday.
“Bottom line, rate sheets are going to be ugly this morning,” wrote Matthew Graham, chief operating officer of Mortgage News Daily. “Some lenders will be at 4.5 percent on their best-case-scenario 30-year fixed quotes.”
That is the highest rate since 2014.
Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
- Mortgage rates are surging due to the jump in U.S. bond yields.
- “Some lenders will be at 4.5 percent,” says Matthew Graham of Mortgage News Daily.
- Higher mortgage rates, combined with higher home prices, will make this spring housing market even more challenging.
