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Interest rates are at their highest levels since late December, leading to slower mortgage market activity, according to new industry data released on Wednesday.
For the week ending March 18, the average contract rate on 30-year fixed-rate mortgages rose to 6.3 percent, according to the Mortgage Bankers Association. This is up from 6.19 percent the previous week.
Despite the increase, the 30-year rate is still down from last year’s 6.72 percent.
Mortgage rates typically track the U.S. Treasury market, particularly the yield on the benchmark 10-year government bond.
Even as Wall Street experiences jitters while traders seek shelter in safe‑haven assets amid the war in Iran, yields have shown little sign of retreating this month….
For the week ending March 18, the average contract rate on 30-year fixed-rate mortgages rose to 6.3 percent, according to the Mortgage Bankers Association. This is up from 6.19 percent the previous week.
Despite the increase, the 30-year rate is still down from last year’s 6.72 percent.
Mortgage rates typically track the U.S. Treasury market, particularly the yield on the benchmark 10-year government bond.
Even as Wall Street experiences jitters while traders seek shelter in safe‑haven assets amid the war in Iran, yields have shown little sign of retreating this month….
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