Mortgage rates have soared back to their highest levels since November as inflation concerns increased long-term bond yields, which normally move in tandem with mortgage rates. So reports MarketWatch.

The cost of new homes is feeling upward pressure due to soaring lumber prices. Softwood lumber, which is normally used in house frames, almost doubled between April 2020 and January 2021, according to the Department of Labor’s producer price index. So reports BankRate.com.

Bill Bodnar of The Mortgage Market Guide (MMG) says that rates moved higher this week, but we might have found a bottom.