For seven straight weeks interest rates have seen increases, with this week being no exception. They landed at 3.18%, per the Freddie Mac weekly report—only a slight rise from last week’s 3.17%.

Just two months ago they were under 3%, after a string of decreases leading to the records continually being broken for the lowest rates on record. But the past seven weeks show a strong indication we are unlikely to ever see rates that low any time soon.

Interest rates for buying a home are on a steady increase

Freddie Mac reports 61% of homes during the last week in March went under contract in less than two weeks, which is the fastest

Read More At:  Article Source