{"id":20233,"date":"2022-03-29T12:17:25","date_gmt":"2022-03-29T12:17:25","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=20233"},"modified":"2022-03-29T12:17:27","modified_gmt":"2022-03-29T12:17:27","slug":"mortgage-rates-surge-to-4-42","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/mortgage-rates-surge-to-4-42\/","title":{"rendered":"Mortgage Rates Surge to 4.42%"},"content":{"rendered":"\n

Mortgage Rates Surge to 4.42%<\/p>\n\n\n\n

Elevated inflation and the Federal Reserve\u2019s monetary tightening policy drove the latest leap in mortgage rates this week. Since the beginning of this year, mortgage rates have jumped by 1.2%. The typical home buyer would need to spend $250 more every month to be able to purchase a home, Nadia Evangelou, senior economist and director of forecasting for the National Association of REALTORS\u00ae, writes on the association\u2019s blog.<\/p>\n\n\n\n

The 30-year fixed-rate mortgage moved up to a 4.42% average this week, more than a quarter of a percentage point compared to last week, Freddie Mac reports in its latest mortgage market survey. Rates continued to rise across loan types. \u201cRising inflation, escalating geopolitical uncertainty, and the Federal Reserve\u2019s actions are driving rates higher and weakening consumers\u2019 purchasing power,\u201d says Sam Khater, Freddie Mac\u2019s chief economist. \u201cIn short, the rise in mortgage rates, combined with continued house price appreciation, is increasing monthly mortgage payments and quickly affecting home buyers\u2019 ability to keep up with the market.\u201d<\/p>\n\n\n\n

Freddie Mac reports the following national averages with mortgage rates for the week ending March 24:<\/p>\n\n\n\n