This is a chart we fully expect to see a lot of in the coming weeks.
It’s a chart of the average rate on the 30-year fixed rate mortgage, and although the actual rate is incredibly low by historical standards, there’s been a notable spike up in the last month.
With the housing market recovering, and increasing chatter about the Fed ending extraordinary measures to ease policy, it’s only a matter of time before rising mortgage rates becomes a mainstream story. And that story will be all about: Is the great once-in-a-lifetime chance to buy a house going away?
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