Why mortgage rates just crossed 4%, and what you can do about it

Source: Bankrate — 

In early 2021, mortgage rates blew through the 3 percent threshold. Now, with the coronavirus pandemic mostly under control but inflation raging out of control, rates have topped 4 percent.

After hitting an all-time low in January 2021, mortgage rates are back at levels not seen since mid-2019. The average rate on 30-year mortgages climbed to 4.03 percent this week from 3.85 percent last week, according to Bankrate’s weekly survey of large lenders.

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