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Housing prices and interest rates aren t going back down, expert says [Video]

Mortgage rates surged to the highest level in two years, leaving homebuyers on high alert as further increases loom.

Mortgage rate spike startles borrowers, who blame inflation

The average 30-year rate was 3.08% in November but shot up to 3.54% by mid-January. The speed is a bit startling, but so was the spike in inflation.

Tompor: Rapid rise in mortgage rates startles homebuyers; blame inflation fears

Banks anticipated the Federal Reserve will raise its rates to tamp down inflation.

Conforming Mortgage Loan Limits Rising

For 2022, the standard conforming limit for single-unit properties is $647,200, up nearly $100,000 from the 2021 cap.

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