Mortgage rates tick up again

Average 30-year fixed loan hits 2.81%, threatening housing market’s rally

National /
Feb.February 18, 2021 01:30 PM
(iStock)

(iStock)

Mortgage rates keep climbing.

The average 30-year, fixed-rate loan last week was 2.81 percent, compared to 2.73 percent the previous week. That’s the highest since November and 16 basis points above the record low of 2.65 percent reached in early January, according to Bloomberg.

Costlier loans may threaten the trend of rising home prices. The combination of growing demand and diminished supply has sparked bidding wars, and with mortgage rates now going up as well, the hot housing market could cool off as buyers are priced out.

The yield on 10-year Treasuries reached 1.3 percent this week, the highest in almost a year.

Mortgage rates are still very low by historical standards. They have remained below 3 percent since July thanks in part to the Federal Reserve limiting borrowing costs.

[Bloomberg News] — Sasha Jones





    Related Articles

    arrow_forward_ios
    Community Development Corporation of Long Island CEO Gwen O'Shea (CDCLI, iStock)
    Nassau County aims to salvage $6M rent relief program
    Nassau County aims to salvage $6M rent relief program
    Senator Chuck Schumer and 70 Prospect Park West (Google Maps, Getty)
    Schumer blasts Brooklyn landlord as NY pols vow to pass good cause eviction
    Schumer blasts Brooklyn landlord as NY pols vow to pass good cause eviction
    Dick Cavett and the property in Montauk (Compass, Wikipedia)
    Dick Cavett sells estate for $24M in priciest Montauk deal this year
    Dick Cavett sells estate for $24M in priciest Montauk deal this year
    Judge trashes 421a rent overcharge suit against Muss
    Judge trashes 421a rent overcharge suit against Muss
    Judge trashes 421a rent overcharge suit against Muss
    Low interest rates and the capability for some to work from home is helping fuel the market for vacation homes, a new survey indicates. (iStock)
    Pandemic continues to fuel demand for second, third homes
    Pandemic continues to fuel demand for second, third homes
    Widow of late General Electric CEO Jack Welch buys $23M UES mansion
    Widow of late General Electric CEO Jack Welch buys $23M UES mansion
    Widow of late General Electric CEO Jack Welch buys $23M UES mansion
    State Sen. Jabari Brisport and a rendering of 840 Atlantic Avenue (Getty, IMC Architecture, iStock)
    How a senator’s vampire politics hurt real estate — and NYC
    How a senator’s vampire politics hurt real estate — and NYC
    CoStar CEO Andy Florance and REBNY president James Whelan (Getty, iStock, REBNY)
    Brokerage execs gush over REBNY, CoStar listing portal. Agents aren’t sold
    Brokerage execs gush over REBNY, CoStar listing portal. Agents aren’t sold
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...