The average 30-year fixed mortgage rate edged up to 6.66% last week, the highest in a year, reversing a decline that had briefly pushed rates below 6% in February
“People that have been on the sidelines, they realize that this is probably going to be a while,” said Vivian Gueler, a mortgage lender in LA. “So they're just jumping off the sidelines and starting to look around a little bit.”
Several central banks are going to make decisions on interest rates this week, including the Federal Reserve. While most are likely to keep interest rates unchanged this week, Fed policy could start to diverge from other central banks in the coming months.