Higher Rates Equal Higher Borrowing Costs What a difference a couple of months make. In early January of this year, the 30-year fixed-rate mortgage was hovering near the low 3% level and just above record lows. The lowest on record was seen in January of 2021 at 2.65%. But that was fairy tale land, and those bottom basement numbers could be a thing of the past. However, as we know, anything can happen. The current rate is around 5.0%. Inflation has surged to a point where the Consumer Price Index, a measure of consumer goods and services, is at a 40-year high. That has caused bond prices … Continue reading...