c/net Money -- A handful of closely followed mortgage rates climbed up April 13. as 15-year fixed and 30-year fixed mortgage rates both grew. We also saw an upward trend in the average rate of 5/1 adjustable-rate mortgages.
Mortgage rates have been slowly rising since the start of this year, and are expected to increase throughout 2022.
While rates are above their historic records set earlier in the pandemic, they're still relatively low. Interest rates are dynamic – they rise and fall on a daily basis due to numerous economic factors. In general, now is a good time for prospective homebuyers to lock in a lower rate rather than later this year. Speaking with multiple lenders will help you find the best rate available for your financial situation.