Mortgage rates may be on the rise, but that doesn’t necessarily mean the housing boom is about to go bust.
For the third consecutive week, mortgage rates pushed past 3%, with the average 30-year fixed loan hitting a nine-month high of 3.09% last week, according to Freddie Mac. The uptick is being driven by a rise in the yield on the 10-year Treasury, which is closely tied to consumer loans like mortgages, credit cards and auto loans.
Rising mortgage rates typically signal a recovering…
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