How Rising Rates Could Help the Mortgage Market

As if bidding wars and rising prices weren’t enough to make homebuyers panic, the continued increase in mortgage rates is adding to the mania. Interest rates for home loans hit a two-year high, with the average 30-year mortgage at 4.51 percent, according to new data from Freddie Mac. That’s a third higher than it was just two months ago, meaning that on a $200,000 loan, the monthly payment jumps from $881 to $1,015.

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