Mortgage rates head ... up?
Well ... no. It's more complicated than that, and you need only look at what's happened in recent weeks for proof:
That's the weekly average for 30-year fixed-rate loans, according to Freddie Mac.
So why aren't mortgage rates playing nice?
Usually, recession fears press rates down. That's what was going on at the beginning of the year. But after that, as the Associated Press notes, "bond markets have grown worried about rising inflation pressures that are coming as the economy slows." That's sent rates back upward.
So far, though, they're below the average for last year -- 6.34 percent.