Mortgage Rates Barely Budge, Remain Below 3%

The 30-year fixed-rate mortgage held near last week’s average and continues to average near historical lows and under 3%.
“Mortgage rates stayed relatively flat this week,” says Sam Khater, Freddie Mac’s chief economist. “Housing is in a similar phase of the economic cycle as many other consumer goods. While there is strong latent demand, low supply has caused prices to rise as shortages restrict the amount of sales activity that otherwise would occur.”
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