Jiggle the card reader? Check the security tape? The old school red flags might not work for latest skimmer devicesA"For Sale" sign is displayed in front of a home in Skokie, Ill., Sunday, April 14, 2024. On Thursday, May 2, 2024, Freddie Mac reports on this week's average U.S. mortgage rates.
The average rate on a 30-year mortgage has now increased five weeks in a row. It hasn't been this high since November 30. Mortgage rates are influenced by several factors, including how the bond market reacts to the Federal Reserve’s interest rate policy and the moves in the 10-year Treasury yield, which lenders use as a guide to pricing home loans.
The uptick in mortgage rates in recent weeks is an unwelcome trend for home shoppers this spring homebuying season. On average, more than one-third of all homes sold in a given year are purchased between March and June.
Source: News Formal (newsformal.com)
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