Mortgage rates spike to 6.85% due to tariff uncertainty, potential economic impact

From CNBC: 2025-04-08 14:20:00

Mortgage rates surged to 6.85% after a significant increase this week, erasing last week’s decline. The bond market, influenced by tariff announcements, caused the initial drop in rates. Housing experts are hopeful for a boost in the market, but high home prices and economic concerns may deter buyers. Pending home sales rose 2% in February, but are still lower compared to last year. The next potential rate change could depend on upcoming economic data reports.



Read more at CNBC: Mortgage rates slingshot higher as tariff uncertainty roils markets