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Mortgage Rates Rebound as Inflation Worries Mount

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.

According to Freddie Mac, the average on the 30-year fixed-rate mortgage was 2.81% for the week ending February 18, up from 2.73% the previous week.

Freddie Mac economist Sam Khater said in a press release, “Economic spending has improved, due to the most recent stimulus, but supply chain shortages are causing downstream inflation, leading to higher mortgage rates.”

Read the full article from MarketWatch.

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