After years of mortgage interest rates basking in the two to four percent range, the past month has witnessed a trend of slowly rising rates, with some creeping up to as high as 5.25 percent for low finance loans.
“We’ve been in the two’s and three’s for so long, and then it seemed like one day we woke up and rates were two percent higher,” Linda McCoy, President of the National Association of Mortgage Bankers, told The Epoch Times. “I don’t have a crystal ball, but I can tell you that the war in the Ukraine, higher oil prices, and inflation are definitely influencing those rates.”
