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Rates Rising Relentlessly, But Why? And When Will They Stop?

Interest rates can’t seem to catch a break.  February was one of only a handful of months in the past 2 decades that resulted in a 0.50% mortgage rate spike.  Despite hopes to the contrary, March isn’t off to a great start either.  Paradoxically, this rate drama means everything is going according to plan.
Why is that?
Because the “plan,” in this case, is to win the war on the pandemic.  That’s a multi-faceted issue, of course, and the war is far from over.  But most of the battles have deleterious effects on rates when they’re going well.
At the most basic level, as covid recedes, the economy improves and a strong economy is the quintessential inspiration for rising rates. …(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed

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