For the week of March 22, 2021

Recap of last week: Rates were slightly worse
Average mortgage rates ended last week slightly worse, as rates continued to move towards pre-pandemic levels. It should be noted though that rates are still near record lows, and it is still a great time to buy a home or refinance.

Mortgage Rate Forecast: Rates likely to hold near current levels
Average mortgage rates have been trending higher over recent weeks, but this week we have a good chance at seeing a break in that trend. Although rates and rebate pricing (the credit you get towards closing costs from your lender, or the fee you pay to get a lower rate, often called 'points') will likely move from day-to-day, we could see rates settle in after a couple of weeks of worsening.

What's affecting rates this week:
- Fed speakers: Fed members will be speaking throughout the week, including Fed Chair Jerome Powell, and we could see markets react if anything new is said or shared.
- Economic data: This week includes some Treasury auctions, which sparked rates rising about a month ago. Friday we get inflation data, and could see some market reaction.
- Market sentiment: Concerns about inflation and an overheating economy continue to put pressure on mortgage rates.

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