Mortgage Rates Going Up as the Federal Reserve Rises Rates

Federal Reserve chairman Jerome Powell stated in the last speech that the the most recent economic figures have outperformed expectations

[{"selector":"#anim-ff67bfac-500b-41a3-bf13-06a83262c1b9","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f7a7f5b8-1a2e-4fed-b639-95b8981c3050","keyframes":{"transform":["translate3d(0px, 58.00586%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5ad19a2e-d04e-4ea9-9ef1-ae66858932c8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c7b88871-cc47-4523-8545-331bd8307b4a","keyframes":{"transform":["translate3d(0px, 110.89254%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Indicating that interest rates will likely eventually be higher than projected

[{"selector":"#anim-ff17f002-f4b8-4751-8bf1-3a27ae56f786","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-de9c662f-2165-4eed-afe0-52f0a31759b9","keyframes":{"transform":["translate3d(0px, 44.06302%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-936f4325-7f71-4013-b8a5-9e037b3d6e20","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-90a38126-c71a-4cf7-a27c-da9ea056defa","keyframes":{"transform":["translate3d(0px, 119.41695%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

After the speech of Jerome Powell Home loan interest rates increased from their previous levels, which was already creeping up

[{"selector":"#anim-dc734ddd-2f2d-48a2-a601-997a564f9b57","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9dba8e4c-1d1f-40f2-9be9-f0b815d70444","keyframes":{"transform":["translate3d(0px, 53.61525%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1fbe4e3f-eec6-48d9-901d-2df7459fea85","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a4d23516-00a0-4f34-92b2-6aa72ae4093e","keyframes":{"transform":["translate3d(0px, 108.49904%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Adding eight basis points from last week's 6.65%, the 30-year fixed-rate mortgage reached 6.73% as of March 9

[{"selector":"#anim-d2e6d50f-18ae-4fa8-8b8d-dd6ee25db811","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1603f531-aba9-47fc-b48d-e43d9d82314e","keyframes":{"transform":["translate3d(0px, 50.63018%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5970b40c-ec36-4bc4-8911-2e37095b606c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-292d77f9-b899-407c-b944-253baa89bf52","keyframes":{"transform":["translate3d(0px, 114.90626%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-790dcf59-6b15-4530-8aba-ebfba0018cb9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-57.73874876001174%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

The average fixed-rate mortgage rate for last year was 3.85%

[{"selector":"#anim-b76137f5-2802-4051-a07e-5abba9f4baff","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bead31e3-11c5-4b74-9400-89e1c779e2ee","keyframes":{"transform":["translate3d(0px, 50.63018%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0f9e63a3-fc64-427e-9014-b9d6e5d36ad8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bf34e677-b840-40d1-a188-a9fe096c61e7","keyframes":{"transform":["translate3d(0px, 205.05876%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Federal Reserve chief Powell's speech made it clear that the central bank is ready to return to a faster pace of rate hikes

[{"selector":"#anim-80700041-7321-4fa0-9296-b6d63d448e71","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d79451b4-0f25-45b6-b405-33f478020051","keyframes":{"transform":["translate3d(0px, 50.63018%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-60bff827-6679-4497-90bc-4a29c0c5acf8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e79f66a9-46e9-4188-9801-e6e2bd17e5de","keyframes":{"transform":["translate3d(0px, 115.31778%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Mortgages are a rate-sensitive industry that will continue to suffer from the Federal Reserve's rate increases.

[{"selector":"#anim-6d6bb13c-e81a-44f8-b37e-71e40385413b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b4f4b784-26b4-4088-82cc-25e43fcca398","keyframes":{"transform":["translate3d(0px, 53.61525%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-46d6a3c2-67a2-45ac-a6f8-55db404dcfd3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bf252649-4563-4beb-aa1e-d0811f130845","keyframes":{"transform":["translate3d(0px, 121.07909%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Next: Powerball Winner Bought a $25.5 Million Mansion

[{"selector":"#anim-f8123d72-37be-4d7d-99e0-e8366f7eb48a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0d83cdd2-ff7e-4757-ba30-0a63a39a32bc","keyframes":{"transform":["translate3d(0px, 53.61525%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f01fd16e-f120-4c48-b6ee-28187d4f42dc","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8bdb875f-0b27-450b-8925-eb3799db276e","keyframes":{"transform":["translate3d(0px, 239.20507%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more