Reply #14: Evidence of mortgage rate increases

[ozymandius]

Little by little, mortgage rates rise
Refi activity is slowing, spurring new buyers to lock in rates

The historic wave of home refinancings, which has fueled U.S. consumer spending, looks as if it may have crested. Refinancings are declining because mortgage rates are rising again -- both locally and nationally -- after having fallen to their lowest levels in more than 40 years.

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Nationally, rates began to rise slightly in early June as bits of promising economic news caused financial markets to boost yields on 10-year Treasury notes, the benchmark for mortgage rates.

As a result of these increases, the rush of homeowners seeking to refinance their mortgages has slowed, while some buyers are now rushing to lock in rates in case rates go even higher.

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