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
    Douglas Elliman chairman Howard Lorber (Getty, iStock, Illustration by Kevin Rebong for The Real Deal)
    Elliman’s property management arm suffers data breach
    Elliman’s property management arm suffers data breach
    220 Central Park South (Getty)
    Second resale at 220 CPS among last week’s Manhattan luxury deals
    Second resale at 220 CPS among last week’s Manhattan luxury deals
    Photo illustration of Fredrik Eklund and Dottie Herman (iStock, Getty)
    Douglas Elliman expands into tight Texas housing market
    Douglas Elliman expands into tight Texas housing market
    15 Central Park West penthouse and Lindsay Rosenwald (Google Maps, BHS, Fortress)
    15 Central Park West penthouse sells for $46.7M
    15 Central Park West penthouse sells for $46.7M
    (iStock)
    Hot, hot, hot: Resi market sets new price records in March
    Hot, hot, hot: Resi market sets new price records in March
    Housing starts soared in March, which is good news for a residential market hampered by low inventory and high demand. (iStock)
    Good news: March housing starts soar 19%
    Good news: March housing starts soar 19%
    Ilan Bracha (Getty)
    From boss to broker: Ilan Bracha joins Corcoran
    From boss to broker: Ilan Bracha joins Corcoran
    Duke Properties’ CEO Albert Dweck. (Duke)
    Duke Properties’ CEO used company funds for lavish lifestyle: lawsuit
    Duke Properties’ CEO used company funds for lavish lifestyle: lawsuit
    arrow_forward_ios

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

    Loading...