Mortgage Interests Rose Sharply This Week to 2.97%

Realtor.com reports that mortgage rates rose sharply this week to 2.97% as the 10-year Treasury yield hit its highest level in the past year.

Layoffs have plummeted significantly last week and consumers are now more confident about the economy’s recovery. While it’s expected that mortgage rates are going to rise further, the Federal Reserve has given assurance that it would keep interest rates unchanged for a long time.

See full report here – https://www.nar.realtor/blogs/economists-outlook/instant-reaction-mortgage-rates-february-25-2021

If you need help buying or selling, call David Yudell at 917-817-9701.

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