The average mortgage rate hasn’t risen this high since the end of July 2020. Higher rates signal an economy that’s slowly regaining its footing, noted Sam Khater, Freddie Mac’s chief economist, reported by HousingWire.
Rising rates certainly didn’t slow new home sales in January. The U.S. census bureau reported sales of new single-family houses in January were at a seasonally adjusted annual rate of 923,000 — 4.3% above December’s rate.
“However, recent increases in mortgage interest rates threaten to exacerbate existing affordability conditions.
Continue reading Optimism as mortgage rates rise at Movement Mortgage Blog.
