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The latest information on current mortgage rates
Will current mortgage rates last?
Mortgage rates have now remained above 3% for two consecutive weeks for the first time since April. While rates sometimes crossed the 3% threshold during the summer and late spring, they always fell the following week.
The Federal Reserve has signaled that changes in monetary policy are coming, due to concerns about inflation, labor shortages and supply chain issues. Since the start of the pandemic, Fed policymakers have kept short-term interest rates low and invested heavily in mortgage– backed titles, helping to keep mortgage low rate.
“Markets continue to worry about labor market shortages and supply chain issues that could put additional upward pressure on prices and prompt the Federal Reserve to take more aggressive action to combat the inflation, “Zillow vice president of capital markets Paul Thomas said in a statement. declaration. “The decrease in Federal Reserve bond purchases later this year is considered fairly certain and the focus is now on when and how many times the Federal Reserve will raise the Fed Funds rate in 2022 and next. -of the.”