The mortgage industry had a relatively tumultuous week. Rates began at 7.28%, and got as high as 7.47%. Rates eventually evened out at the week’s end, closing at 7.39% – quite close to the yearly high of 7.49%.
The landscape of mortgage rates continues to be one of volatility. As mortgage rates remain near historic lows, refinancing activity has started to pick up. The low rates could also lead to a surge in home purchase activity. Nonetheless, it’s important to note that current rates could rise further depending on the progress of economic stimulus measures and other macroeconomic events.
Summary of Mortgage Rate Activity:
– Rates starting: 7.28%
– Rates highest: 7.47%
– Rates ending: 7.39%
– Rates near yearly high: 7.49%
– Refinancing activity picking up
– Potential surge in home purchase activity
– Rates could rise further based on macroeconomic events
You can read this full article at: https://www.housingwire.com/articles/mortgage-rates-get-close-to-the-yearly-high-of-7-49/(subscription required)
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