Source: Fortune —
Historically low rates were nice while they lasted.
In another hit to prospective homebuyers, the average 30-year fixed mortgage rate hit 4.42% this week, up 1.31 percentage points from three months ago, according to Freddie Mac.
That’s the largest 12-week jump since 1994. It’s a dramatic shift from the average 3.22% rate at the beginning of this year, and the record low of 2.65% in January 2021.