Wait – mortgage rates are going … up?

Yes, it was a bit of a surprise: for the week ending February 22, mortgage rates went from 6.77% to 6.9%, for the highest rates of the year.

Analysts say that the slight tick upwards comes as a result of strong economic and labor market conditions mixed in with continued uncertainty over inflation.

The good news is that market inventory continues to rise while home prices have slowed. How this plays out during the spring season remains to be seen.

Leave a Comment