March was a tough month on many fronts, and that includes mortgage rates. At the end of February we saw the lowest 30-year averages since September 2022. A mere four weeks later, average rates are about 40 basis points higher — that's almost half a percentage point (a basis point is one one-hundredth of a percentage point).
Mortgage rates have been rising pretty relentlessly, and from where we stand now, it looks like April will see rates continuing to move higher.
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