So lots of things happened last week in the financial markets, including the federal interest rate going up by three-quarters of a point on your auto loans and your credit cards.

The mortgage interest rate went up above six percent, but then dropped down to 5.7 and went to 5.9. Now, we're kind of settled in at 5.8.

Today, for a third a year, one of the reasons you might want to be looking at the 10-year arm is that didn't go up so much; it's only at 4.25. But talk to your lender about that one.

So what's happening with the mortgage interest rates? Well, they are predicated by not only the market and the federal interest rate, but also by treasury-backed notes and bonds - all these different things that are highly volatile. That's why things are changing so much.

However, if you're a buyer, this is a really good time to pause and think about what you'd like to buy. As a seller, this may mean the frenzy is over for right now.

If you have any questions, please feel free to reach out. Thanks so much, glad you stopped by!

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