USA: 30-Year Mortgage Rate Rises Further.

The average rate on a 30-year fixed mortgage rose to 6.22% as of March 19th after trending near its lowest levels of the year in previous weeks according to data from Freddie Mac. The uptick tracked a climb in Treasury yields as investors weighed heightened inflation concerns fueled by the ongoing war in Iran and a pause in interest rate cuts by the Federal Reserve. “The 30-year fixed-rate mortgage edged up this week to 6.22% but remains nearly half a 1% point lower than the same time last year. Potential homebuyers are poised for a more affordable spring homebuying season than last with the market experiencing improvements in purchase applications and pending home sales,” said Sam Khater Freddie Mac’s chief economist.