US mortgage rates rise for the first time in 6 weeks, jumping above 3% - Business Insider

"In the short-term, this means the demand will continue on the back of near record low mortgage rates."

Still, there are potential risks ahead for the housing rebound as new coronavirus cases spike in the US, forcing some states to pause or roll back reopening plans. "The most recent consumer spending data has been pointing to slow growth since mid-June," said Khater. "The concern is that the pause in economic activity will cause unemployment to remain elevated which will lead to longer-term labor market distress."Something is loading.

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The rates are still extremely low! Get in the market and start building equity with little money down.

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