Most signs point to higher mortgage rates in the coming days and weeks. The markets are volatile because of many factors, including geopolitical conflict and inflationary concerns.
Meanwhile, home prices aren’t getting any cheaper.
So if you’re debating whether to lock in a rate now or later, your window of time may be dwindling to capitalize on current rates before they head up.
This is explained very clearly in a recent article from Bankrate.com:
And also from Bankrate.com, here are current mortgage and refinance rates for Missouri. As of Wednesday, March 30, 2022, current rates in Missouri are 4.84% for a 30-year fixed, 4.09% for a 15-year fixed, and 3.88% for a 5/1 adjustable-rate mortgage (ARM).