CDP in Contra Costa County, part of the East Bay
Mortgages have seen sustained increases as oil prices surge, fueling inflation concerns and boosting bond yields. The latest data show the 30-year fixed rate has risen to multi-month highs, with refinancings and home-purchase activity muting as borrowing costs weigh on buyers.
Mortgage rates have moved higher, suppressing loan demand and weighing on home sales and refinancing. The mortgage market remains pressured by inflation, oil price dynamics, and policy expectations, with several reports showing rates near or above 7% and inventories rising.