NC Mortgage Rates on the Rise

Mortgage rates are increasing in North Carolina. At the beginning of last year, a 30-year fixed mortgage dipped to a record low rate of 2.65%. But now, a week after the Federal Reserve upped interest rates for the first time since 2018, the rate hovers above 4.5%. Experts predict rates will keep rising. To curb inflation, the Fed is expected to increase rates five more times this year.