from Business Insider
The 30-year fixed-rate mortgage just broke 7% for the first time this year
the 15-year fixed-rate mortgage spiked to 6.39%
The sudden spike comes as markets adjust expectations for interest rate cuts this year after inflation appears stuck well above the Federal Reserve’s 2% target.
Not a great sign for a near term inflation dip. Rents and insurance are keeping it high.
Maybe Europe will save the day?
the European Central Bank signaled on Thursday that it’s penciling [a rate cut] in for June.
via The Daily Upside