Insight
The 10-year Treasury yield hit a yearly high of 4.74%, and mortgage rates rose six basis points to 6.83%.
Fed hawks are on the war path, sending mortgage rates higher
Summary
Federal Reserve hawks are pushing for multiple rate hikes, increasing mortgage rates to 6.83%. This move, driven by inflation concerns and geopolitical events like the Iran conflict, impacts the broader economy and could affect housing market dynamics for STR investors.
Key takeaway