February 18, 2021
Reaching its highest point since mid-November, the 30-year fixed-rate mortgage averaged 2.81 percent this week. Economic spending has improved, due to the most recent stimulus, but supply chain shortages are causing downstream inflation, leading to higher mortgage rates. While there are multiple temporary factors driving up rates, the underlying economic fundamentals point to rates remaining in the low 3 percent range for the year.
Source Freddie Mac