Freddie Mac, the federally chartered mortgage investor, aggregates rates from around 80 lenders across the country to come up with weekly national average mortgage rates. “Upward pressure on mortgage rates is likely to remain, as increased economic activity and steeper inflation both tend to push rates higher. Although the Federal Reserve does not set mortgage rates, its policies can influence them. Since early in the pandemic, the Fed has been buying $120 billion in bonds each month, which has held down mortgage rates. “This unexpected demand for U.S. debt is putting a temporary ceiling on U.S. 10-year Treasury yields and long-term U.S. mortgage rates.

Source: Washington Post March 18, 2021 14:03 UTC