Mortgage rates are surging again due to sustained economic growth and continued inflation, eclipsing 7% on Thursday. And it could be a while before they tick back down, economists say.

The 30-year fixed-rate mortgage on Thursday, March 2 touched 7.10%, up 16 basis points from 6.94 on Wednesday.

The most recent survey by Freddie Mac measured 30-year fixed-rate mortgages at 6.65% for the week ending Thursday, driven by the 10-year Treasury surpassing 4.0%.

The high level of rates come after a period of relative optimism in January and early February, when the 30-year details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com