Mortgage rates rise for the fifth-straight week | CNN Business

The 30-year fixed-rate mortgage averaged 6.73% in the week ending March 9, up from 6.65% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 3.85%. After hitting a 2022 high of 7.08% in November, rates had been trending down. However, they started climbing again in February, rising half a percentage point over the past month.

” The Fed does not set the interest rates that borrowers pay on mortgages directly, but its actions influence them. Mortgage rates tend to track the yield on 10-year US Treasury bonds, which move based on a combination of anticipation about the Fed’s actions, what the Fed actually does and investors’ reactions. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow.

jeffgalletly be careful man, don’t go to California. I am sure you don’t fancy getting rabies

We own nothing and are happy

So much for build back better

Mortgage rates fluctuate dependent on inflation not the Fed. We’ll get a good inflation report next week, a shitty one in April then come May, rates will continue to come down.

I need to know how so many people are affording million dollar + homes, tearing them down and rebuilding. What kind of jobs pay so good for that privilege?

Great job Biden, nobody can afford a home

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