Mortgage rates have surged from 5.03 percent on May 26 to 5.79 percent on June 10
That's more than 3/4 percent in two weeks! And rates will continue to go up, as the Fed continues to print money pretending that inflation isn't an issue. Treasury Bond auctions are also at much higher interest rates (and mortgages rates go up correspondingly) reflecting that too much funny money is being dumped on the markets, and buyers are demanding an interest rate that has future inflation built in. We will see 6% mortgage rates by the end of the month. Homebuilders are history.