(Left) Kevin Dietsch/Getty Images, (Right) Getty Images
- The 30-year fixed mortgage rate spiked to 6.87% in the last week, the highest level in two months.
- Elevated borrowing costs for prospective buyers sent mortgage applications lower.
- A hot inflation report for January is likely to keep borrowing costs elevated as the Fed stays hawkish.
Mortgage rates surged to a two-month high in the last




