Mortgage interest rates have nearly tripled in the span of just a couple years amid inflation fears and strong economic growth.
David Paul Morris / Bloomberg via Getty Images fileMortgage interest rates continue to climb, putting homeownership further out of reach for many potential buyers.— the highest level November 2000.Mortgage rates have nearly tripled in the span of just a couple years from the lows seen during the height of the pandemic. As recently as January 2021, the average 30-year rate had dipped to 2.65%.
Demand for bonds is also being affected by the U.S. government's ongoing borrowing efforts: As deficits increase, so does the supply of Treasury debt on the market — and greater supply means lower prices. Bond yields increase when prices go down.
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