US 30-year mortgage rates are up 100 basis points and climbing since January 4, 2021. Most of the increase has occurred since the turn of the year into 2022. According to the Bankrate 30-year mortgage rate index, the 30-year rate is up 57 basis points just since December 31, 2021 as the benchmark 10-year Treasury yield rises.
Bear in mind that the REAL 30-year mortgage rate is now -3.2%. Get it while you can!!
Given today’s surprise jobs report, The Fed now has a green light to raise rates.
To quote Van Morrison and Them, “Here Comes The Night” for the housing and mortgage market.