Benchmark Mortgage Rate Hits Highest Mark in More than a Year The benchmark mortgage rate has reached its highest point in over a year, prompting concerns among homebuyers and economists.
This surge is primarily driven by inflationary pressures and a strengthening economy. What's Behind the Rise in Mortgage Rates? Inflation is a key factor contributing to higher mortgage rates.
As prices rise, investors become more risk averse, pushing up bond yields and subsequently mortgage rates.