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Last week's higher-than-expected inflation data caused a rapid escalation in mortgage rates.

The 30-year fixed-rate average, which had fallen four of the past five weeks, climbed to 2.87 percent.

The 30-year fixed-rate average has remained below 3 percent for six of the past seven weeks. It is at 2.99 percent this week.

The Green Bubble February 13, 2021, 8:24 AM·36 min read Yes, I am going to talk about bubbles again, but once again about one specific bubble: the bubble in anything (supposedly) green, particularly if it can be tied to the war against climate change. Like many of the asset-price bubbles of our current moment, this one is not entirely irrational. Not only are green assets being “revalued” (to use a term that implies rather more calculation than is really the case) in the light of the general mispricing of risk that is the product of today’s artificially low interest rates, but, as I ha...

After falling to a historic low, the 30-year fixed-rate average jumped to 2.79 percent this week. Meanwhile, mortgage applications soared to start the year.