Inflation hurting rate
Inflation numbers came in hot this morning, which is causing the stock market to be a bit lower. Also, the 10 year treasury is above 2% for the first time in years. Mortgage backed securities closely follow the 10 year, which means mortgage rates are up a good amount this morning. Below is the rate chart. Red is bad, green is good. Rates are on the move to 4+.
A 4% mortgage rate is still an amazing rate, FYI.