The 30-year fixed-rate mortgage increased by more than a quarter of a percentage point as mortgage rates across all loan types continued to move up, said Sam Khater, Freddie Mac's chief economist. "Rising inflation, escalating geopolitical uncertainty and the Federal Reserve's actions are driving rates higher and weakening consumers' purchasing power," said Khater.
"What will my monthly mortgage payment be?Rates rose as investors reacted to comments made by Federal Reserve Chairman Jerome Powell on Monday that inflation is"much too high," and the Fed might exercise the option of larger 50 basis point increases in the funds rate in upcoming meetings, said George Ratiu, Realtor.com's manager of economic research. "The main takeaway is that mortgage rates are likely to push toward 5.
Thank you！
It's gonna be 5% very soon
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