Mortgage Interest Rates are Climbing March 2, 2023

The last time 30 year fixed mortgage interest rates were higher than now you would have to go back to November 9th, 2022.  It was economic data yet again that caused rates to go up this week.  Thankfully, it wasn’t data that was very consequential to the United States ecnonomy,  However, there are more important reports and data to be released in the coming weeks.  The Fed has been telling us that rates are highly “data dependent”, so we could see more volatility in the short term.

The average mortgage lender is back in the high 6.0% range with more than a few lenders over 7.0%.