Why the housing market should brace for double-digit mortgage rates in 2023
That's more than a 10%-15% correction in property prices from the pandemic's 45% countrywide increase.
They seldom alter rates this often.
Mortgages are priced above risk-free Treasury rates to account for default risks.
Dow Jones Market Data said the 30-year Treasury rate reached 4.213% Thursday, its highest since 2011.
In its last weekly poll, Freddie Mac reported a 20-year high 30-year mortgage rate of 6.94%.
On Thursday, CME odds predicted a 4.75%-5% fed-funds rate for February.
For More Story Click Below