Bloomberg
Surge in Mortgage Rates Threatens to Slow U.S. Housing Rally
(Bloomberg) — The pandemic housing rally is getting its first big test.Mortgage rates rose in each of the past three weeks, driven by a bet that inflation will accelerate as the U.S. economy roars back this year. While borrowing costs are still near historic lows, the quick jump has already begun eroding the purchasing power that enabled buyers to push up home prices across the country in recent months.The bidding frenzy…
Source link
