Reported 1 day ago
Mortgage rates have risen to their highest level since May 2024, surpassing 7% due to strong December job growth, which has affected bond yields. The average 30-year mortgage rate is now 7.04%, while 15-year rates are at 6.27%. Despite this upward trend, potential relief may be on the horizon as Treasury yields decline following easing inflation metrics, leading traders to believe the Federal Reserve could cut interest rates by May.
Source: YAHOO