For the first time since early 2011, the average mortgage lender is quoting conventional 30yr fixed rates of 5.0%. This happened fairly quickly too, with 0.25% of the increase seen in the last 3 days of the week. What’s causing all this drama and is there any hope that it will subside?
Source: Kevin Litwicki Universal Lending
Rates Surged to 5% This Week. Is There Any Hope?