If you're thinking about buying a home or refinancing, the mortgage rate you secure can save or cost you tens of thousands of dollars. But understanding how these rates are actually set, and why they fluctuate so much, is more complex than you might think.
Mortgage rates are trending because recent economic shifts have made them highly volatile, directly impacting housing affordability.
After hitting historic lows during the pandemic, rates have surged due to inflation and central bank actions.