It’s been more than four years since long-term mortgage rates have been as high as they were this week. In the upcoming week, fixed rates are likely to deteriorate even more.
Thirty-year note rates on all home loans that were originated during March averaged 4.69 percent, increasing from the preceding month by 21 basis points.
The rate escalation was even more severe compared to the same month last year, when average 30-year note rates were determined to be 4.39 percent.
Source: Mortgage Daily