Mortgage Rates Surge

Mortgage rates surge to 7.28 percent, marking the largest weekly increase since 2022.

Mortgage rates have surged, marking the largest weekly increase in four years. The 30-year fixed-rate mortgage rate jumped from 7.03% to 7.28%, marking the biggest increase since October of 2022. This increase is seen as a sign of how the recent bond-market selloff is affecting the economy. Freddie Mac reports that the biggest jump in mortgage rates since October 2022 is the largest since that date.

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