Economist on Interest Rate Copy

The 30-year fixed-rate mortgage rose to 6.11% this week, according to Freddie Mac. “While the increase from 5.98% to 6.11% was a relatively strong move, it was largely expected given recent geopolitical developments and the upward trend in the 10-year Treasury yield, which mortgage rates tend to follow,” says Nadia Evangelou, principal economist and director of real estate research at the National Association of REALTORS®. For a home buyer, the mortgage payment increase would work out to be about $27 per month.