Mortgage rates tick up again

May 12, 2021

first_img Share via Shortlink The yield on 10-year Treasuries reached 1.3 percent this week, the highest in almost a year.Mortgage rates are still very low by historical standards. They have remained below 3 percent since July thanks in part to the Federal Reserve limiting borrowing costs.[Bloomberg News] — Sasha JonesContact Sasha Jones Mortgage RatesMortgagesResidential Real Estate Email Address* (iStock)Mortgage rates keep climbing.The average 30-year, fixed-rate loan last week was 2.81 percent, compared to 2.73 percent the previous week. That’s the highest since November and 16 basis points above the record low of 2.65 percent reached in early January, according to Bloomberg.Costlier loans may threaten the trend of rising home prices. The combination of growing demand and diminished supply has sparked bidding wars, and with mortgage rates now going up as well, the hot housing market could cool off as buyers are priced out.Read moreHomebuying up again, but rising mortgage rates depress refinancingHousing starts fall for first time since AugustHomebuilder confidence picks up after 2 months of decline Message* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Tags Full Name*last_img

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