Mortgage rates sign on the home and charts. gettyTwo negative impacts hit homebuyers last week: interest rates and winter weather. Mortgage interest rates took a big jump Freddie MacRefinance applications also saw a big dip, of 10% week-over-week, which was 50% higher than a year ago. Refinances are also steadily dropping as interest rates reverse course from the record lows seen during 2020. Interest rates are going to get back over 3% very soon and will continue to increase after that.

Source: Forbes February 27, 2021 16:52 UTC