Mortgage Rates Dip to 3.89%

By
Mortgage and Lending with ChangeMyRate.com® A Mortgage Corporation NMLS #1326269

The 30-year fixed-rate mortgage reversed course this week and decreased to an average of 3.89%, Freddie Mac reports. However, with expectations of even higher inflation on the horizon, mortgage rates likely will resume their upward trek over the coming weeks, Nadia Evangelou, senior economist and director of forecasting at the National Association of REALTORS®, notes on the association’s blog.

Despite this week’s decline, mortgage rates have risen by more than a full percentage point over the last six months, says Sam Khater, Freddie Mac’s chief economist. “Overall economic growth remains strong, but rising inflation is already impacting consumer sentiment, which has markedly declined in recent months,” Khater says. “As we enter the spring homebuying season with higher mortgage rates and continued low inventory, we expect home price growth to remain firm before cooling off later this year.”

To learn more about the dip in mortgage rates and the home buying process, visit the SCOOP! Blog

Comments (3)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I’ve heard that was to be expected for a lot of us around the country

Feb 26, 2022 10:39 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Still a very excellent rate.   Happy Sunday and thanks for the share on the Rain.  Rest up as it all starts over tomorrow. bill

Feb 27, 2022 05:23 AM
Joe Manausa - Tallahassee, FL
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks for sharing, Jackie. With low inventory and a need for homes, the market is going to stay hot into 2022!

Feb 27, 2022 05:44 PM