Mortgage Rates Dip Again As Fed Keeps Money Supply Loose

After trending upward to start 2021, mortgage rates have declined once again, following the Federal Reserve’s expected announcement that it would keep its benchmark rate near zero. So reports MoneyWise.

According to Freddie Mac, the 30-year fixed-rate mortgage averaged 2.73% for the week ending January 28, down four basis points from a week earlier.

“The continued spread of the virus, the introduction of new, more virulent variants, and a thus-far sluggish rollout of the vaccine all injected fresh uncertainty into markets,” said Zillow economist Matthew Speakman, according to the publication.

Read the full article from MoneyWise.