Mortgage rates still low, but many experts see higher rates ahead

Rates across the country’s most popular mortgage types have remained historically cheap for another week, at levels that are relatively close to their all-time lows, according to a long-standing weekly survey.

The ongoing wave of COVID delta variant infections has become a giant weight holding mortgage rates down.

This means that homeowners have been given more time to refinance and cut their monthly payments. But it could be a mistake for borrowers to hold out for even lower rates, amid signs the economy may be doing OK despite the delta variant.

Despite the ongoing COVID uncertainty, rates last week were up just a smidge from the previous week’s 2.86%. One year ago, rates were averaging 2.91%. Alterna Mortgage was still lower!

Have questions? Feel free to reach out to Scott Bennett at 503-703-4699 or scott@altmo.com to talk about your current situation.