Article Date: March 14, 2022

Mortgage rate forecast for next week (March 21-25)

After falling for two straight weeks, mortgage rates shot back up.

The average 30–year fixed interest rate jumped from 3.76 on March 3 to 3.85% on March 10.

Interest rates have been in a recent state of flux – even more so than usual – with the Russian invasion of Ukraine creating uncertainty in global financial markets. Meanwhile, many economic indicators point to growth in U.S. mortgage rates throughout 2022.

This week’s Federal Reserve meeting should give us a clearer picture as to where rates will likely go in the near–term.

Will mortgage rates go down in March?

Mortgage rates have been on a rollercoaster after surging throughout January and February.

Russia’s war on Ukraine caused global uncertainty and subsequent interest rate drops. The longer the crisis goes on, the higher the likelihood we see more declines.

However, the Fed is still expected to tighten its monetary policies to keep up with inflation and economic expansion, which would put upward pressure on mortgage rates.

Original Post: https://themortgagereports.com/32667/mortgage-rates-forecast-fha-va-usda-conventional