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foreign some bad news for home buyers today mortgage rates back up after five straight weeks of declines the 30-year fixed jumping to 6.39 thats from 627 ing to Freddie Mac one year ago those rates 5.11 so what does this mean for the state of the Housing Industry we welcome in Nicole the show Zillow senior Economist nice to see you um so what do you think this means are we going to Plateau right at this rate and remain Frozen in the housing market for the rest of the year uh you know were not really expecting rates to move dramatically from where they are right now you know this kind of six and a half percent that weve seen bouncing around over the past couple of weeks is pretty likely to be somewhere within that realm for the rest of the year right were not going to see the the rates we saw in 2021 um you know coming back anytime soon what we are seeing right now is inventory is super low on the market and thats really whats causing a lot of the fluctuation as well as these rate