Mortgage Revival Short Circuited

By IBEX.Media @ Adobe Stock

Just as many Americans were beginning to refinance their mortgages, rates jumped, and activity has declined.

Over the last three weeks, average 30-year fixed mortgage rates, as measured by Freddie Mac, have increased from 5.98% to 6.22%.

Mortgage rates are rising in synch with 10-year Treasury rates, which are up on additional risk perceived by markets after the start of the war with Iran.

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