🚨 Mortgage rates are officially back above 7%.
Mortgage News Daily has the average 30-year fixed at 7.07%, up 0.10% today and above 7% for the first time in more than a year.
The day before the Iran war began?
5.99%.
Today?
7.07%.
Oil above $100, inflation fears, rising Treasury yields and growing expectations for another Fed hike are putting serious pressure on the bond market.
And mortgage rates aren't waiting for the Fed.
Tomorrow we get CPI. 👀
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Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate