world-economy

Mortgage Rates Climb to Multi-Month High Amid Inflation Concerns

Mortgage rates reached their highest level in several months this week as inflation pressures and geopolitical uncertainty weighed on the bond market. Hotter-than-expected inflation data stoked concerns that the Federal Reserve may need to maintain higher interest rates longer than previously anticipated. Treasury yields on the 30-year bond climbed to levels not seen in nearly two decades as investors reassessed rate expectations. Mortgage applications remained steady despite the rate increases. The surge threatens to dampen momentum in the spring selling season, though some homebuyers continued pursuing purchases despite higher borrowing costs.