Buyers of median-priced homes are looking at a monthly mortgage payment that is 53% higher than it was a year ago.
After taking a breather for several weeks, mortgage rates climbed again.
“After little movement the last few weeks, mortgage rates rose again on the back of increased economic activity and incoming inflation data,” said Sam Khater, Freddie Mac’s chief economist. “Investors have their eyes on the Consumer Price Index, expecting to see continued gains but at a moderating pace,” he said, adding that the data will be an important measure for the Federal Reserve at its meeting next week.again at its next policy making meeting. Mortgage rates tend to track 10-year US Treasury bonds. But rates are indirectly impacted by the Fed’s actions on inflation.
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