Mortgage Rates Surge Amid Inflation Concerns

Recent inflation reports have led to a significant increase in mortgage rates, affecting both new purchases and refinancing options.

Mortgage rates for new purchases and refinancing have seen substantial increases, with some rates reaching the highest levels in months.
The rise in rates follows higher-than-expected inflation figures, prompting concerns about the cost of borrowing.
Homebuyers face a dilemma: buy now with higher rates or wait in hopes of a decrease, which could lead to increased competition and prices.
Economists predict that mortgage rates may stabilize later this year, but this depends on the Federal Reserve's actions regarding interest rates.
The housing market remains tight with low inventory, influencing both the pricing and availability of homes.