For interested buyers and current homeowners looking to refinance their current mortgage, it's been great news to hear that low interest rates have continuedfor two straight months. However, the pattern may no longer remain. According to Freddie Mac's Primary Mortgage Market Survey, rates ticked up for the week ending March 3.
"The market turbulence that kicked off the year subsided at the end of February, providing at least a temporary break in the flight to quality," said Sean Becketti, Freddie Mac's chief economist. "Treasury yields approached their highest level in a month, boosting the 30-year mortgage 2 basis points this week to 3.64 percent. Despite this welcome breather, Fed officials have been highlighting the downside risks to the economic outlook, and the market expects the Fed to refrain from any further short-term rate increases for now."
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