“Mortgage rates jump back over 7% as inflation fears drive yields higher”
March 3, 2023
“The average rate on the 30-year fixed mortgage jumped back over 7% on Thursday, rising to 7.1%, according to Mortgage News Daily. Growing fears that inflation is not cooling off are pushing bond yields higher. Mortgage rates loosely follow the yield on the U.S. 10-year Treasury…
As a result, mortgage applications from homebuyers have been falling for the past month and last week hit a 28-year low, according to the Mortgage Bankers Association…”
https://www.cnbc.com/2023/03/02/mortgage-rates-back-over-7percent.html