BREAKING: Average interest rate on a 30-year mortgage rises back above 7.0% after the Fed dismisses a March rate cut.

Mortgage rates jumped 15 basis points today and are now at their highest level in a month.

Meanwhile, market futures have completely removed a 25 basis point… pic.twitter.com/E2SLhmk2tx

— The Kobeissi Letter (@KobeissiLetter) February 5, 2024