Week High Shock: Mortgage Rates Are Rising

Mortgage rates rose to 6.57% on Wednesday following a hotter-than-expected inflation report (PPI), marking the highest level since late March.

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Mortgage rates rose to 6.57% on Wednesday following a hotter-than-expected inflation report (PPI), marking the highest level since late March. The increase—up from 6.42% last week—comes as the spring housing market shows signs of recovery, with home showings up 8% year-over-year in April.

However, the rebound faces a major hurdle: low inventory. Available homes remain 11-12% below normal levels, keeping competition fierce. While rates have eased slightly from last year’s 7% peak, they’ve climbed about 40 basis points since February, reducing buyer purchasing power by roughly 4%.

Despite some stabilization in bond markets by day’s end, lenders held rates steady at 6.57%, keeping pressure on affordability. For now, the market is active—but limited supply and rising rates mean buyers and sellers need to move quickly.

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For Sale

4452 Lincoln Ave

Los Angeles, CA 90041

Priced to sell! Charming Spanish-style duplex in the heart of Eagle Rock, offering a rare opportunity for both investors and owner-users. Both units to be vacant at the close of escrow. The property features attractive landscaping with mature palm trees and several fruit trees, creating a welcoming and tranquil outdoor setting. Ample parking adds to the overall convenience and appeal.Ideally located just minutes from trendy shops, cafes, and popular eateries, this property also provides easy access to major freeways. A short drive connects you to Downtown Los Angeles, Glendale, and Pasadena, placing the very best of city living within reach while still enjoying the character of a well-established neighborhood.Both units are spacious and thoughtfully laid out, offering comfort, functionality, and strong rental potential. Whether you’re looking to live in one unit and rent the other or expand your investment portfolio, this duplex delivers flexibility and value.A guest room located at the rear of the property may not be permitted. Priced as the lowest-priced duplex in Eagle Rock, this is an exceptional opportunity you won’t want to miss.

Property Features:

- 2 Bedrooms & 2 Bath

- 1,930 Square Ft

- Duplez

Don’t miss this amazing opportunity.

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