Mortgage Rates Jump Up: March 25, 2021
During the course of the pandemic, "home" has become more important than ever. As a result, strong purchase demand continues, but buyers outnumber sellers. Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power. Unfortunately, this has disproportionately affected the low end of the market, where supply is the slimmest.